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Bionovate (BIIO) Stock Fell 11% Last Session, Why?

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As of Friday’s close, Bionovate Technologies Corp (OTCPink: BIIO) was down -10.83 to $1.0700. The volume of shares in Bionovate stock was 5.31K, compared to its average weekly volume of 4.96K. In the absence of current news, BIEO’s stock fell, so we can look to recent developments for a more complete understanding of this company.

What has been happening at BIIO lately?

Bionovate invests in and markets patents and licenses that allow healthcare and lifestyle diagnostics to be accessed from smartphones. BIIO is focusing on enabling digital transformation by creating a platform of medical devices and mobile applications with a strong emphasis on mobile user experiences based on health care data. BIIO sees the medical technology market as one of the most promising, high-growth segments in the world.

Bionovate recently filed a formal application for listing on the NASDAQ Stock Exchange (“NASDAQ”). By total market capitalization, NASDAQ ranks second worldwide and is the home of many world-class technology companies.

The United States Securities and Exchange Commission (SEC) has receive BIIO’s Form 20-F Registration Statement in connection with its application to list on NASDAQ. BIIO’s shares will only be listed on the NASDAQ Capital Market after the company meets the minimum listing requirements for that market, among other factors.

What is BIIO trying to accomplish?

BIIO intends to comply with all of the requirements for listing. With the listing, Bionovate (BIIO) enters a phase of rapid growth in the global market for medical devices.

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