Aethlon Medical Inc.'s (OTCQB: AEMD) stock volume skyrocketed Oct. 16, with 4.7 million shares changing hands, more than twice its 30-day average volume of 1.7 million.
The uptick in volume for the San Diego-based medical device company is being fueled by its Oct. 14 announcement that its Hemopurifier(R) therapy being used to treat a patient infected with Ebola virus.
The treatment was administered to a Ugandan doctor at the Frankfurt University Hospital in Germany. The patient, who is also a World Health Organization (WHO) worker, contracted the virus in Sierra Leone.
According to Aethlon, its bio-filtration device works by targeting the rapid elimination of viruses and immunosuppressive proteins from the circulatory system of infected individuals. At present, no antiviral therapy or vaccine has proven to be effective against Ebola virus infection in humans.
On Oct 16, AEMD's share price closed at 24 cents, unchanged from its close of the previous day.
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Nuvilex Shares Rise 19% on News of Potentially Lucrative Licensing Agreement
On Oct. 16, Nuvilex Inc. (OTCQB: NVLX) announced that it has entered into a license with the University of Technology in Sydney, Australia (UTC) that grants Nuvilex the worldwide rights to use human insulin-producing cells, termed "Melligen" cells.
These cells were developed by Prof. Ann Simpson and her colleagues at UTS for the development of a treatment for insulin-dependent Type 1 or juvenile-onset diabetes. Type 1 diabetics are unable to produce the insulin required to transport glucose from the blood to the inside of cells where it is used as a source of energy. The beta islet cells of the pancreas of Type 1 diabetics that normally produce insulin have been destroyed by an autoimmune disease
Investors reacted positively. By market's close , 3.9 million NVLX shares had changed hands, nearly double its 30-day average volume of 1.9 million. Meanwhile, NVLX's share price closed at 25 cents, up 4 cents, or 18.61%, from its close of 21 cents the previous day.
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InVivo Therapeutics Holdings' Stock Volume Soars on News of Pilot Study
InVivo Therapeutics Holdings Corp.'s (OTCQB: NVIV) stock volume soared Oct. 16, with 1.1 million shares changing hands, nearly 4 times higher than its 30-day average volume of 359,417 shares.
The sudden surged in volume of the Cambridge, Mass.-based bio-tech company's stock comes on the heels of an Oct. 15 announcement that the first subject has been enrolled in the pilot study of InVivo's Neuro-Spinal Scaffold for the treatment of complete traumatic spinal cord injury (SCI) at the Barrow Neurological Institute at St. Joseph's Hospital and Medical Center in Phoenix, AZ.
The objective of the pilot study is to evaluate the safety and feasibility of the Neuro-Spinal Scaffold as well as to gather preliminary evidence of effectiveness.
Dr. Nicholas Theodore, Chief of Spinal Surgery, Barrow Neurosurgical Institute and Medical Director of the Neurological Trauma Program, is a Principal Investigator in this study and implanted the first-ever Neuro-Spinal Scaffold into an acute spinal cord injury patient.
Faces Challenges
Despite this positive development, InVivo has had some challenging problems this year, which include several class action lawsuits and a stock that has lost more than two-thirds of its share value since Apr. 28.
The allegations of the class action lawsuits against InVivo Therapeutics accuses the biotech of violations of the Securities Exchange Act of 1934 by virtue of the defendants' alleged failure to disclose during the Class Period the time within which its first-in-man clinical study for its biopolymer scaffolding product would be complete and data submitted to the FDA.
According to the complaints, following company's Aug. 27, 2013 press release disclosing that the FDA had placed conditions on the approval of an Investigational Device Exemption that would make the company's stated target date for completing the study and submitting data to the FDA was impossible, the value of InVivo shares declined significantly.
However, it must be noted that these are just allegations and thus far InVivo Therapeutics has not been proven guilty in a court of law.
New Treatment
InVivo has pioneered a new treatment platform utilizing a biocompatible polymer-based device that is intended to promote structural support for spinal cord regeneration while improving functional recovery and prognosis after a traumatic SCI.
Estimated 10-Billion Market
On the positive side, the company estimates the worldwide market for treating acute complete SCI to be over $500 million annually, and the chronic SCI market to be over $10 billion. This is the first in-human trial of InVivo's novel investigational device, a critical step in addressing a major unmet need for patients with SCI.
On Oct. 16, NVIV's share price closed at 69 cents down 2 cents from the previous day's close of 67 cents a share.
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Corgenix Medical Corp. Volume Soars On Development of Ebola Testing Products
Corgenix Medical Corp. (OTCQB: CONX) stock volume also soared Oct. 16, with $2.5 million shares changing hands, nearly 8 times higher than its 30-day average volume of 322,311 shares.
The surge in volume could be tied to the fact that Corgenix is working jointing on a new test that would allow physicians to quickly determine whether a patient is infected with the Ebola virus
The Bloomfield, Colo.-based medical company hasn't issued an update on its progress on this project since September.
On Oct. 16, CONX's share price closed at 30 cents down 1 cent from the previous day’s close of 31 cents a share.
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