Biotech firm Endonovo Therapeutics Inc (OTCMKTS:ENDV) was in focus among investors yesterday and ended up with gains of as much as 5% following an announcement from the company. The company came into focus on Monday after it announced that it had made an agreement with the leading Global Contract Research Organizaton (CRO) and medical device reimbursement expert named NAMSA.
Market Reaction
On Monday, ENDV stock gained 5.85% at $0.0190 with more than 47K shares, compared to its average volume of 91K shares. The stock moved within a range of $0.0185 – 0.0190 after opening trade at $0.0190.
Endonovo Therapeutics Signs Agreement with NAMSA to Develop Reimbursement Strategy for Endonovo Medical Products
As per the nature of the agreement, NAMSA is going to function as strategic advisors to Endonovo and help in developing both out-patient as well as in-patient reimbursement strategies for the company’s Pulsed Electro-Magnetic Field product named SofPulse.
Alan Collier, who is the Chief Executive Officer of Endonovo, noted that the decision to bring in NAMSA strategic advisors could prove to be a major strategic advantage for the company.
In addition to that, he went on to state that NASMA has a proven track record as medical device development collaborator and has the necessary knowledge and expertise to deliver. At this point in time, it may be a good idea for investors to add the Endonovo stock to their watch lists and then keep an eye on further developments over the course of the coming days.
Key Quote
“Engaging NAMSA as strategy advisors to develop and apply proven medical device reimbursement strategies is a huge advantage for Endonovo and our shareholders, according to Endonovo CEO Alan Collier. “NAMSA is a proven medical device development partner with relevant therapeutic know-how that is critical when seeking acceleration of reimbursement efforts and commercialization objectives,” he pointed out.
Traders Review
ENDV stock is trading above the 20-Day and 50-Day Moving averages of $0.0188 and $0.0183 respectively. However, the stock is trading below the 200-Day moving average of $0.0216.
