Last week closed with a back-from-the-dead power pop in Biotricity Inc (OTCMKTS:BTCY), which is very interesting for both technical and fundamental reasons. This latest move has taken the stock back above its 50-day moving average for the first time in a month.
More to the point, the company just announced that it has achieved significant progress in their University of Calgary-based R&D program for their latest wellness monitoring systems. According to the release, clinical data collection has commenced for both its fetal/maternal and ambulatory adult heart rate variability (HRV) monitoring systems.
Biotricity Inc (OTCMKTS:BTCY) trumpets itself as a medical diagnostic and consumer healthcare technology company, focuses on providing biometric data monitoring solutions in the United States.
The company focuses to deliver remote monitoring solutions to medical, healthcare, and consumer markets, including diagnostic and post-diagnostic solutions for lifestyle and chronic illnesses.
It is developing Bioflux mobile cardiac telemetry solution that provides recurring reimbursements to doctors, hospitals, and independent diagnostic testing facilities; revenue model that fits within the established insurance billing practices; built-in cellular connectivity; and motion tracking to detect exercise, activity, and disorientation.
The company is also developing Biolife, a health and lifestyle solution for individuals. It has a collaboration agreement with the University of Calgary to determine the predictive value of electrocardiogram readings in preventative healthcare applications. Biotricity, Inc. is based in Redwood City, California.
According to company materials, “Biotricity is a modern medical technology company focused on delivering innovative, remote biometric monitoring solutions to the medical and consumer markets, including diagnostic and post-diagnostic solutions for chronic conditions and lifestyle improvement. Biotricity’s R&D continues to focus on the preventative healthcare market, with a vision of putting health management into the hands of the individual. The company aims to support the self-management of critical and chronic conditions with the use of innovative solutions to ease the growing burden on the healthcare system.”
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As noted above, BTCY just announced that it has achieved significant progress in its University of Calgary-based R&D program for their latest wellness monitoring systems.
The chart shows 40% tacked on to share pricing for the stock in the past week. Moreover, the listing has witnessed a pop in interest, as transaction volume levels have recently pushed 52% beyond what we have been seeing over the larger time frame. Traders should note this as important with the stock trading on a float that is tight at just 19.2M shares.
Dr. David Liepert, QA/QI and Safety Lead and Director for the University of Calgary Cumming School of Medicine Department of Anesthesia commented, “We could not be more excited to participate in developing both these non-invasive medical-grade ambulatory monitors, utilizing the amazing fidelity and mobility of the Bioflux system. We expect both tools to contribute to better outcomes, lower costs and increased patient satisfaction.”
Currently trading at a market capitalization of $41.84M, BTCY has virtually no cash on the books, which is balanced by about $1.3M in total current liabilities. One should also note that debt has been growing over recent quarters. BTCY is pulling in trailing 12-month revenues of $220K. In addition, the company is seeing recent top-line growth, with sequential quarterly revenues growing at 38.8%. We will update the story again soon as further details emerge. Sign-up for continuing coverage on shares of $BTCY stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!
Disclosure: we hold no position in $BTCY, either long or short, and we have not been compensated for this article.