NEW YORK, NY / ACCESSWIRE / March 20, 2018 / SeeThruEquity, a leading independent equity research and corporate access firm focused on smallcap and microcap public companies, today announced it has issued an update on BioCorRx Inc.
(OTCQB: BICX).
The report is available here: BICX March 2018 Update Note.
Based in Anaheim, CA, BioCorRx, Inc. (OTCQB: BICX, "BioCorRx") develops and provides advanced solutions for the treatment of alcohol and opioid use disorders. The company's BioCorRx® Recovery Program is a non-addictive, medication-assisted treatment (MAT) program, which consists of two main components: 1) an outpatient implant procedure using naltrexone in a sustained release form, which can significantly reduce physical cravings for alcohol and opioids; and 2) a proprietary cognitive behavioral therapy (CBT) program and overlapping peer recovery support specifically tailored for those receiving long-term naltrexone treatment. BioCorRx is also developing injectable and other implantable naltrexone products for potential future regulatory approval through its subsidiary BioCorRx Pharmaceuticals. We see the company as offering high risk and high growth potential as it targets the multi-billion dollar market for addiction treatment.
Highlights from the note include:
BioCorRx differentiated by two-pronged approach to treatment
We are updating our overage of BioCorRx following recent developments at the company since we initiated coverage. BioCorRx is pursuing a two-pronged approach to the treatment of substance abuse addiction, including the BioCorRx® Recovery Program, and BioCorRx Pharmaceuticals, a subsidiary advancing a drug development program for the company's formulation and delivery method for naltrexone through candidates BICX101 and BICX102. The company's treatment program is thought to address many of the shortcomings of the current standard of care, including the combination of therapy and medication, as well as the utilization of non-addictive medication to suppress addiction. Naltrexone is a non-addictive opioid receptor antagonist that works in the brain's reward system, thereby blocking some of the effects of alcohol and drugs.
Encouraging pre-IND meetings with FDA
Positive pre-IND meeting with FDA for BICX102. On February 12, 2018, BioCorRx announced that it had completed a positive pre-Investigational New Drug (IND) meeting with the FDA for BICX102, which is the company's sustained release naltrexone implant for the treatment of opioid and alcohol use disorders. According to the release, the FDA deemed the 505(b)(2) pathway as an acceptable route for approval of BICX102 for both alcohol and opioid indications in its pre-Investigational New Drug (IND) meeting. Assuming access to external funding, the 505(b)(2) route should enable a relatively faster and more cost-effective path to market for BICX102, as BioCorRx should not be required to perform additional efficacy studies given the existing body of information on the implant that they already possess coupled with the data which exists in the public domain on naltrexone in other forms. Rather, BioCorRx plans to perform a nonclinical safety study, a clinical pharmacokinetic (PK) study and clinical safety and human factor testing. We see this as a significant development for the company, as it will open access to the large and expanding market for drugs to treat addiction, potentially positioning BICX102 as an alternative to injectable naltrexone from Alkermes plc.
Updating price target to $0.44 for BICX
We are updating our price target to $0.44 for BioCorRx. The company has several potential catalysts ahead as it seeks to gain approval for BICX102 and BICX101 while looking to expand its BioCorRx® Recovery Program and weight loss program currently being piloted.
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About BioCorRx Inc.
BioCorRx Inc. (OTCQB: BICX) is an addiction treatment company offering a unique approach to the treatment of substance abuse addiction. The BioCorRx® Recovery Program, a non-addictive, medication-assisted treatment (MAT) program, consists of two main components. The first component of the program consists of an outpatient implant procedure performed by a licensed physician. The implant delivers the non-addictive medicine, naltrexone, an opioid antagonist that can significantly reduce physical cravings for alcohol and opioids. The second component of the program developed by BioCorRx Inc. is a one-on-one counseling program specifically tailored for the treatment of alcoholism and other substance abuse addictions for those receiving long-term naltrexone treatment. The Company also has an R&D subsidiary, BioCorRx Pharmaceuticals, which is currently developing injectable and implantable naltrexone products for potential future regulatory approval. For more information on BICX, visit www.BioCorRx.com.
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Since its founding in 2011, SeeThruEquity has been committed to its core mission: providing impactful, high quality research on underfollowed smallcap and microcap equities. SeeThruEquity has pioneered an innovative business model for equity research that is not paid for and is unbiased. SeeThruEquity is the host of acclaimed investor conferences that are the ultimate event for publicly traded companies with market capitalizations less than $1 billion.
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