Motus GI Holdings Inc. (MOTS) stock plunged in the current market at-11.94% to trade at $0.92, at the time of writing. MOTS stock closed at $1.05 in the last session. The MOTS stock traded at a volume of 1.36 million shares. This volume was lower than the average daily volume of 3.81 million shares for the past three months. MOTS shares for the past year have risen by 34.68%. MOTS stock has moved down in the past week by -19.23%. The stock has lost -5.41% in the past 90 days and added 10.14% in the past 180 days. Motus GI Holdings Inc. is currently valued at a market rate of $50.26 million with 40.38 million outstanding stocks.
Motus GI Holdings Inc background
Motus GI Holdings Inc. is a medical technological company that has its base of operations in Fort Lauderdale, Florida. The operational framework of the company is to provide cost-efficiency and enhancement in clinical outcome through its endoscopy solutions. The company focuses on the diagnosis and treatment of the diseases and conditions related to gastro intestine in the market of United States as well as Israel.
What is Motus’s Pure-Vu?
The leading product of MotusGi Holdings Inc. is known as the system of Pure-Vu. During a colonoscopy procedure sometimes the colon is poorly prepared and thus it requires cleaning of the debris, blood clots and blood so that the endoscopist can clearly see it. This cleaning is facilitated by Pure-Vu.
Pure-Vu submitted by the company for 510(k) approval
The company MotusGi Holdings announced on 6th April 2021, that it has submitted a 510-k form for its flagship product Pure-Vu. The submission is given to the Food and Drug Administration for Pure-Vu®. 510(K) is a clearance certificate granted by the Food and Drug Administration in order to test a product for premarket submission so that its claim of efficacy and safety can be verified and approved. Once this submission is approved, the Pure-Vu system can be immediately set-up for commercialization and marketing.
How MOTS is trying to increase its operational footprint
The MOTS stock is increasing its value for the shareholders through four value-driven operations which include new product innovation, clinical data, partnerships, and reimbursement.
The new strategic partnerships include the most recent announcement of a study that will lead to evaluation of clinical and economic outcomes from utilization of Pure-Vu in patients that are suffering for emergent lower gastrointestinal bleeding. This will be done partnered with a leading non-profit organization.
Pure-Vu can enter a potential market
Pure-Vu is going to enter into a market of unmet needs related to the treatment of upper GI bleeding. The significance of this system in the market-accessibility sense is such that around 0.4 million patients have had upper GI bleeding in the year 2019. The fatality rate of this disease is also at a serious 10%.
The requirement of Pure-Vu is going to be very impactful to remove adherent blood clots to clear vision through endoscopy in order for the physicians to have clarity in identifying the source of bleeding and treating it.