Over the course of the past few weeks, many stocks have rebounded from their lows. The coronavirus pandemic had completely sent the markets into a tailspin, but things are slowly shaping back yet again, and hence, it could be wise for investors to start looking at some stocks. One of the stocks that to have notable gains over the course of the past month is that of Predictive Technology Group Inc (OTCMKTS:PRED), which gained by as much as 40% during the period and investors could do well to take a closer look at it.
The company is looking to radically change precision patient care by personalizing the whole thing. To that end, Predictive Technology seeks to use predictive gene-related analytics to provide its service to patients. It is an exciting niche and one that could see significant interest in the medical fraternity in the years to come. The company has also had some landmark developments in recent months, and it could be worthwhile to take a closer look at those.
Submits Emergency Use Authorization Application
Back in April, Predictive announced that it is a fully owned subsidiary Predictive Biotech sent in an Emergency Use Authorization application to the United States Food and Drug Administration for the usage of mesenchymal stem cells for treating Acute Respiratory Distress Syndrome (ARDS). The stem cells in question are sourced from the umbilical cord tissue.
More importantly, it should also be pointed out that ARDS secondary to the novel coronavirus. The Chief Executive Officer of the company John Sorrentino said that the coronavirus could cause ‘cytokine storms,’ and the trials of those aforementioned stem cells have shown that it could be used effectively to treat patients infected with the coronavirus.
In addition to that, a recent article in Pain Physician stated that umbilical cord mesenchymal stem cells could be considered as a treatment for critically ill coronavirus patients on compassionate grounds. That is also a significant boost for Predictive and for its product named CoreCyte. It has also been reported to the company by physicians that more than 1100 patients have been treated with the product, and no adverse reactions have been reported. That is another significant milestone for the company as it looks for authorization from the FDA.
Initial Order
It was in April as well that Predictive Technology made another major announcement with regards to its business. On April 8, the company announced that its distribution partner Wellgistics placed an order for as many as 1 million units of Assurance AB™ COVID-19 IgM/IgG Rapid Antibody Test.
The test kit in question is meant for the use of health care workers and also in laboratories. It was a significant order and went to show that Predictive had been doing rather well during the pandemic.
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