MediGus Sp ADR (NASDAQ: MDGS) is off to an overwhelmingly strong day in the pre-market hours this morning and for good reason. The company announced the successful completion of its first 10 procedures. As a result, investor excitement led the charge as the stock found its wa:y upward. Of course, our partners at Trade Ideas were the first to alert us to the gains. Currently (8:29), MDGS is trading at $3.41 per share after a gain of $0.68 per share or 24.91% thus far today.
MDGS Announces Successful Completion Of First 10 Procedures
As mentioned above, MediGus is having an incredibly strong start to the trading session today, and for good reason. The company announced that it has completed its first 10 procedures in the initial phase of the China Food and Drug Administration multi-center MUSE(TM) clinical trial in China. In a statement, MDGS principal investigator, Yunsheng Yang, Director of Gastroenterology Department Clinical Center at 301 Hospital and chairman of the Chinese Society of Gastroenterology had the following to offer…
“The availability of the MUSE(TM) procedure in China provides patients with a less invasive option for the long-term treatment of GERD…The procedure addresses a new hope and solution between drug therapy and surgical procedures.”
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on MDGS. In particular, we’re interested in the ongoing work in the MUSE(TM) clinical trial and excited to see the results of the trial. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks.
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