Sonasoft Corp (OTCMKTS:SSFT) on April 29, 2022, confirmed executing a Letter of Intent for pending strategic partnership with Diagnose Early. The platform SAIBRE will be used for the huge data captured through Diagnose Early labs. Founded by Nobel Prize-winning team, Diagnose Early has a shared vision of improving patient outcomes with innovative and non-invasive detection of biomarkers for neurological diseases, cancer, and infectious diseases.
Market Reaction
On Friday, SSFT stock moved up 10.56% to $0.0398 with more than 761K shares, compared to its average volume of 232K shares. The stock moved within a range of $0.0330 – 0.0430 after opening trade at $0.0359.
Sonasoft and Diagnose Early Announce LOI for Health Data Partnership
Sonasoft Corp confirmed on August 18, 2021, executing strategic partnership with Information Visibility Technology, pioneer in healthcare information technologies. IVT would be harnessing the AI engine of Sonasoft, SAIBRE, for uncovering key business insights as well as intelligence.
Mike Khanna, Sonasoft’s CEO, said that it is a great fit for the new SAIBRE AI engine. Khanna added that IVT’s expert domain knowledge along with SAIBRE brings a fresh approach, enabling to quickly prototype as well as deploy cost saving solutions to healthcare industry.
Sonasoft and IVT will begin collaborating on deploying two AI bots for reducing inflexibility found in healthcare solutions. These include inventory management bot for supply and demand forecasting as well as dynamic pricing bot for moving away from contract pricing. The system currently dominates the modern healthcare industry.
Chris Shaw, co-founder at IVT said that the partnership with Sonasoft creates perfect approach for solving supply chain as well as distribution issues endemic in industry. The issues have become worse due to the ongoing pandemic. Shaw added that combining experience and knowledge in healthcare as well as data analytics will give deep visibility leading to significant cost reductions for customers.
Traders Review
SSFT stock is trading below the 20-Day and 50-Day Moving averages of $0.0416 and $0.0419 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0593.
