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In this edition of Stock Analyzers, we want to bring to you an emerging penny stock with growth potential otcmkts:bicx (BioCorRx Inc.) We will research its company information, market data, and press releases to form an overall opinion on this emerging company.
otcmkts:bicx is a company providing alcohol and addiction programs throughout the United States and operates through its subsidiaries. The company actively distributes and licenses its recovery program, a medication-assisted treatment plan including counseling and its revolutionary naltrexone implant. The company also develops BICX101, an injectable naltrexone product, and it aids the treatment of alcohol and opioid addictions. It distributes its program through healthcare providers, licensed clinics, and healthcare professionals. It was previously known as Fresh Start Private Management, Inc, and changed its name in January 2014. It is headquartered in Anaheim, California.
otcmkts:bicx Company Overview
BioCorRx Inc is a company that is changing lives throughout the United States. It is a leading healthcare solutions organization whose primary focus is to treat those struggling with addictions. The company focuses on alcoholism and various opioid addictions and strives to change lives through its recovery program, which is currently being implemented through independent treatment centers and physicians throughout the United States.
The program consists of BioCorRx’s innovative cognitive behavioral therapy, and peers support mobile app and certain medications typically used for substance use disorders. The medication administered is at the sole discretion of its consultants and physicians. The most common medication which is used is naltrexone which is injected or taken orally.
What Makes The Program Different?
If the physicians or consultants decide to utilize a medication-assisted treatment program, it can help address the underlying behavioral and physical issues of alcohol and opioid addictions.
The program can be tailored to help people suffering from substance or use disorders and is mainly designed to prepare them for life without addiction.
The company’s multi-tiered approach can result in a lower patient dropout, which may be due to reduced cravings if physicians use anti-craving medications. The program can be conducted on an outpatient basis with little disruption to life.
Cost Of Addiction
Addiction is a disorder affecting over 23 million people every year in The United States alone. The illness costs roughly $700 billion every year.
Addressing these challenges can be tough, but otcmkts:bicx wants to change lives and get people back on track through their programs and treatments.
BioCorRx Inc leadership And Changing Lives
BioCorRx is operated to help individuals rebuild their lives and overcome addictions. The company believes that it will enable people to lead fulfilling and happy lives with the right amount of support. The company’s leadership comprises medical experts, doctors, and those who have experienced addiction firsthand. The company is fully committed to transforming lives.
Company Market Opportunities
BioCorRx recovery program was created to aid the most significant and unmet challenges of addiction. Studies have indicated that 46% of addicts who attend treatment programs will manage to stay in recovery, and only 40% manage to keep clean and sober.
Throughout the years, treatment has been mainly focused on emotional needs and behaviors associated with addiction. These treatments are ignoring or underutilizing pharmacological solutions, which are at the heart of addiction, and powerful cravings to keep using.
otcmkts:bicx believes that an actual illness requires real medication and an effective recovery program supporting the individual to live an everyday and fulfilling life.
otcmkts:bicx Are poised to Gain A market Share of $35 Billion In The Yearly Treatment Market Throughout the U.S
Addiction is a staggering and powerful disorder affecting a considerable number of lives. Here are some of the statics just for the United States, which studies carried out by professionals have collected.
- Heavy drinkers throughout America are a staggering 38 Million.
- Over 12% of the populating is dependent on alcohol.
- Over 25.5 Adults are addicted to alcohol and drugs.
- Roughly 100 casualties form overdoses everyday throughout America.
- There has been a 770% increase for those seeking opioid addiction treatments over the last 15 years.
- A staggering 85% of individuals with alcohol or drug dependencies go untreated.
- The most commonly known opiate is heroin, with over 900,000 users.
What will otcmkts:bicx Bring To This Untapped Market?
The company plans to address alcohol and other substance abuse addictions, with their innovative approach combining support and behavioral management to target the cause directly.
The company has developed a proprietary formula Naltrexone, which is a proprietary implant. This formula has worldwide rights (except New Zealand and Australia) and is FDA Approved.
The company’s therapy program includes cognitive behavioral therapy, which identifies 35 key areas in patients’ treatment. The company has also developed a peer support platform that utilizes live specialists supporting and coaching their patients and contains a mobile app that holds patients and treatment collaborators accountable.
The company is poised to make a significant market share of $35 Billion in the United States. There are also possibilities of rapid expansion through 3rd party supports for BioCorRx® Recovery Program.
otcmkts:bicx Market Data
BioCorRx Inc is currently trading at 2.6400 and has decreased by 4.00% at this writing up. Is Beta Monthly PE ratio being 1.25, with a volume of 275. The company does not offer a dividend yield at this time.
The company has not released an earnings date at this time. The daily range is between 2.6400 – 2.7800 and has a market capitalization of 14,314 Million with an average volume of 3,665.
BioCorRx Inc Economic News
All information has been gathered from reputable sources throughout the web and will give you a more objective view of this life-changing company and its potential opportunities to traders and investors.
otcmkts:bicx $2.25 Million Private Placement
The company announced that it has completed a private placement and issued 1.125 million common stock at the price of $2 per share. Its total proceeds are $2.25 Million. Louis Lucido and Joseph Galligan carried out the private placement and are on the company’s board of directors.
The capital will be utilized for the company’s further developments in the addiction treatment fields. Other uses will include working capital and general purposes.
Lourdes Felix, CEO, CFO commented that they appreciate the support of Louis and Joseph. The company will continue the release of naltrexone implant to aid in treating alcohol and opioid disorders, which are developed by BioCorRx’s subsidiary (BioCorRx Pharmaceuticals Inc). The company is preparing an application for the U.S. Food and Drug Administration, and the main goal will be to start human studies within the year. We believe that the investment is critical for the business strategy, products, and future growth opportunities, which will create value for our shareholders.
More About BioCorRx
(OTCQB: BICX) The company is an addiction solutions organization with a unique approach to treating substance abuse and other related disorders. Its program is Beat Addiction Recovery and includes BioCorRx’s innovative cognitive behavior therapy along with peer support on its mobile app. It also includes medication prescribed by physicians at their discretion. The company also conducts R&D under its subsidiary BioCorRx Pharmaceuticals. For further information of its product pipeline or related information, you can read more at the company website. www.BioCorRx.com
otcmkts:bicx Appoints Joseph J. Galligan
The company announced that Joseph J. Galligan was appointed to the company’s board of directors. The company believes he brings decades of experience within the markets. He has been serving as an advisor for the company since April 2019. He was previously an executive vice president in DoubleLine Capital LP, an investment firm containing over $100 billion in assets, where he was one of the founders. Before joining DoubleLine Capital LP, he was a managing director of the TCW Group, Inc.
He has extensive knowledge in the markets and years of valuable experience and holds a B.S. in Economics from the University of Pennsylvania. He is a Chartered Financial Analyst.
Lourdes Felix, CEO, CFO commented that the company is excited to have Joe on the board of directors. His capital markets and leadership skills have been a valuable asset to BioCorRx as we continue our business developments and plan for a Nasdaq listing.
otcmkts:bicx Expanding Addiction Treatment Options
The company is at an early point of a vast market opportunity. It is considered that most policymakers focus on expanding medication-assisted therapies and accessibility while lowering the hurdles which have limited broad clinical adoption. BioCorRx will focus on the next few years to seek approval for a subcutaneous pellet of naltrexone, working to gain reimbursement for its treatment program and building out sales in UnCraveRx, weight management program. Significant revenue from its development strategy could be 2024-2025, but we believe that it is on track for long-term growth.
The company markets and develops medication-assisted programs and cognitive-behavioral therapies.
These programs aid alcohol addiction and opioid disorders. The company also offers weight management programs through its subsidiary. The programs provide medication-assisted treatments and peer support to equip physicians to provide a customizable solution for their patients.
Opioid Abuse has been a popular topic for over a decade, and this has escalated the concern as drug overdoses have increased by 18%, recorded over 12 months ending in May 2020.
The module’s financial based on BICX102 implant, Beat Addiction Recovery program, and UnCraveRx weight management program for the U.S market approximately in 2024. Product sales have been forecasted at $3.9 million, heading into 2031, product sales from BICX102 estimated at $57 million and UnCraveRx approximately $8 million.
It is assumed that BioCorRx will retain sales and marketing functions and will outsource manufacturing and distribution. This scenario may result in an estimated profit margin of 80% and approximately 45% operating margin.
The estimated valuation for BioCorRx is approximately $5.65 per share, which is based on FDA-approved naltrexone implant, also including the addiction recovery program and UnCraveRx program. Some other factors have a fast and less costly path to U.S approval, potential sales in different geographical locations, and the possibility of additional licenses.
BioCorRx is at an early stage in front of vast market opportunities. Results may remain volatile for a few years as the company continues to invest in approvals for its implant, but this is expected to stabilize as the business grows.
The main factors which will affect the forecast may include commercialization, regulatory and development, competition, reimbursement, and financing needs.
otcmkts:bicx Update On NIDA Grant And Development Of Naltrexone Implant
The company has announced that they have received a notice of award to extend the UG3 phase of the grant from the National Institute on Drug Abuse. The grant has been awarded in support of the release of naltrexone implant for alcohol and opioid disorders treatments, which have been developed by the subsidiary BioCorRx Pharmaceuticals Inc.
The Grant was awarded in Jan 2019 and is a result of the company’s application. The clinical trials are expected to be complete during the year, which will enable the company’s transition.
Brady Granier, President, and Director and CEO of BioCorRx Pharmaceuticals, Inc commented that the company is happy with the notice of award and will allow the company more time to finalize our application and submit it to the U.S. Food and Drug Administration. Some delays led the company to apply for an extension, but we are happy that all information for the application has been received and processed. The company is now focused on submitting in February, but he would like to add that they will rely on third parties to complete the application, leading to more delays. He also stated that this current pandemic had overshadowed the opioid disorder pandemic, which has only got worse throughout the year. The company will look forward to the product aiding the opioid crisis.
Lourdes Felix, CEO, CFO, commented That the company does not expect much more delay in completing our pivotal studies, and we will continue to submit our application soon. The company’s primary focus is to start human trials this year.
Stock Analyzers hope you have enjoyed this write-up on otcmkts:bicx to form an overview of this pioneering company, which shows excellent growth potential. If you enjoyed reading this article, then you might be interested in reading otcmkts:ovtz, which is another emerging stock waiting to be discovered.
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