Marizyme Inc. (OTCMKTS:MRZM) Stock Soars 22% In a Month: But Why?

Shares of Marizyme Inc. (OTCMKTS:MRZM) continued to trend higher on Thursday. The stock has soared 22% in a month.

Market Reaction

On Thursday , MRZM stock moved up 4.73% to $1.77 with 100 shares, compared to its average volume of 420 shares. The stock has moved within a range of $1.7700 – 1.7700 after opening trade at $1.77.

Marizyme Inc. Officially Acquires My Health Logic and Announces Initial Financing

Marizyme Inc. (OTCMKTS:MRZM) has announced the closing of its acquisition of My Health Logic Inc. (subsidiary of Health Logic Interactive Inc.) on December 23, 2021. It has made an announcement regarding a concurrent financing as well.

The lab-on-chip technology (microfluidics) platform and patient-centric digital point-of-care device, MATLOC 1, My Health Logic, boosts Marizyme’s life science technology product pipeline. Microfluidics is used to analyze small volumes of fluids, with the potential to miniaturize complex laboratory procedures onto a small microchip. As of now, Marizyme is engaged in seeking FDA approval for both MATLOC1 and a second product, DuraGraft.

MATLOC 2, next generation point-of-care device is being developed to quantitatively assess eGFR (key measure of kidney function health and/or stage of kidney disease) using a blood-based biomarker.

In other news, David Barthel, who was appointed as Marizyme’s Chief Executive Officer on November 10, 2021, was appointed as a member of the Company’s board of directors a month later. My Health Logic’s senior officers, George Kovalyov, CPA, and Harrison Ross, CFA are also set to join Marizyme in leadership roles.

Concurrent with the closing of My Health Logic Acquisition, Marizyme has closed a private placement in the amount of $6 million, consisting of Units of Convertible Notes and Warrants at a price per Unit of $1.75.

Traders Review

MRZM stock is trading above the 20-Day and 200-Day Moving averages of $1.52 and $1.72 respectively. Moreover, the stock is trading above the 100-Day moving average of $1.56.

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