Anyone who was short Biocorrx Inc (OTCMKTS:BICX) on Valentines Day 2017 got totally massacred. Shares vaulted form .08 cents for a nice 4x move to .31 cents for this penny stock. BICX stock is also liquid, trading more than a million shares in a day, on many occasions this year. The massacre was good for the long side holders who are sitting on some super gains!! Congratulations on your patience.
Most of the rally can be attributed to a second round of funding and the recent closing of nearly $5 million investment from strategic investor Alpine Creek Capital. Their initial investment of $2,500,000 was received in June 2016 and shares have performed well.
Biocorrx Inc (OTCMKTS:BICX) CFO, COO and director Lourdes Felix, stated, “We appreciate the support we have received from investors, as this financing strengthens our balance sheet while allowing us to continue to execute on our business plan. Preclinical studies of BICX101, a new injectable naltrexone technology for the treatment of substance abuse addiction, have produced results consistent with our goals. This funding will allow us to accelerate our preclinical activities, and we remain on track to complete the current study already underway in the following weeks. Once the study is completed, we plan to request a pre-IND meeting with the FDA to present the data. In addition, this financing will allow us to accelerate sales and marketing activities related to our BioCorRX Recovery Program.”
In June 2016, Alpine Creek committed to invest an initial $2,500,000 with an additional $2,500,000 to BioCorRx. Alpine Creek Capital Managing Partner Travis Mullen commented at that time, “We couldn’t be more excited about our investment in BioCorRx and the cutting edge program they have in place. The BioCorRx Recovery Program which includes this naltrexone delivery system coupled with the tangible counseling program is literally saving lives and we look forward to arming as many families as possible with this amazing tool for their battle against alcohol or opioid addiction.”
Brady Granier, CEO of BioCorRx, Inc., welcomed Alpine Creek’s investment and said that the fund is the largest position made in BioCorRx in its more than five years of operations. He said, “Since last year, Alpine has been a valued and trusted financial partner of BioCorRx and this transaction is a testament to the hard work that has been done by everyone in our company to create a product that we believe has great potential to combat this opioid epidemic, as well as the much larger alcoholism problem destroying families across the world. Our program and service model has evolved over the years into something we believe is truly unique and effective in battling addiction. With this significant partnership with Alpine, we will be able to start taking advantage of initiatives we have been dreaming about for years. The folks at Alpine are not your average investors. They really care about what we are doing and the impact it can make and they are also rolling up their sleeves and getting in the trenches along-side us to beat addiction.”
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The company recently finalized a deal with Anaheim Mayor Tom Tait to assist the city in treating residents with opioid and alcohol addiction. Under the agreement, BioCorRx will offer its BioCorRx Recovery Program to residents of Anaheim suffering from alcohol and opioid addiction as an expansion of the Drug Free Anaheim Program unveiled in 2016’s State of the City address aimed at encouraging chronic drug users to seek assistance. The Drug Free Anaheim Program offers addicts the opportunity, through local police stations in Anaheim, Orange County’s most populous city, to request help in exchange for free treatment.
The BioCorRx Recovery Program includes an implant compounded per patient use using the medication, naltrexone, combined with a structured, proprietary counseling program and peer support for a year. It can reduce or eliminate cravings for alcohol and opioids as well as block dangerous effects of opioid use such as overdose as commonly seen in heroin use.
BioCorRX Inc. (OTCMKTS:BICX) seems to have found a niche and has loyal followers and loyal investors. Hopefully companies like BICX will get rewarded for doing important work for opioid and alcohol addiction, in an age where the world is screaming to legalize cannabis and eliminate much of the synthetic poison that exists on our streets is truly a noble effort. This is my new Valentine’s Day Stock. For continuing coverage on shares of $BICX stock, as well as our other hot stock picks, sign up for our free newsletter today and get our next hot stock pick!