Vivos Therapeutics Inc. (VVOS) stock prices soared by 53.65% as of the market closing on August 23rd 2021. This brought the price per share up to USD$5.90 at the end of the trading day. Subsequent premarket fluctuations saw the stock dip by 5.42%, bringing it down to USD$5.58.
VVOS Stock’s 510(k) Approval
August 23rd 2021 saw VVOS stock announce the granting of 510(k) market clearance to the company’s mmRNA device by the U.S Food and Drug Administration. The technology company is focused on developing and commercializing innovative diagnostic and treatment modalities for patients suffering from sleep-disordered breathing. The modified mandibular Repositioning Nighttime Appliance device will serve to treat mild to moderate obstructive sleep apnea, sleep-disordered breathing, and snoring in adults.
Scope of mmRNA
This 510(k) clearance from the United States FDA facilitates a path to expanded insurance reimbursement coverage for the mmRNA device. This includes coverage by Medicare, as well as for potential future government contracts and reimbursements from commercial payers that follow Medicare guidelines. 80% of the 1 billion global demographic of people who suffer from sleep apnea are undiagnosed, with 54 million undiagnosed Americans. The serious chronic illness increases the risk of comorbidities, including high blood pressure, heart failure, stroke, diabetes, dementia, and other life-threatening diseases.
Ahead of Competition
VVOS stock’s oral appliances serve to address the dental tissue anomalies and malformations that are commonly associated with OSA. The Vivos System facilitates a shorter treatment time of 12 to 24 months of therapy, unlike current standard-of-care interventions. Most cases of patients using the company’s treatment do not require lifetime intervention.
VVOS Stock’s Continued Success
The U.S FDA’s market clearance of the mmRNA appliance represents a significant milestone in the company’s ongoing efforts to develop its mmRNA appliance. The company continues to allocate resources towards providing the best possible treatment for patients who suffer from OSA. The debilitating condition causes or exacerbates a myriad of other chronic health issues can be mitigated or managed, making much of the suffering unnecessary. Next-gen products like the mmRNA are essential for the provision of a better alternative for effectively treating their OSA. The clearance facilitates the expansion of commercial insurance reimbursement.
Future Outlook for VVOS Stock
The company is having a stellar quarter, armed with its most recent development of the FDA approval for mmRNA. VVOS stock is keen to leverage the expanded scope of its profitability as it continues to push for the commercialization and proliferation of its flagship treatment. Investors are hopeful that management will be able to facilitate consistent increases in shareholder value over the long term.
