The Tivic Health Systems Inc (NASDAQ: TIVC) stock price surged 52.2% as of 7:01 EST adding to yesterday’s massive 80.11% rally higher triggered by several developments. Yesterday’s rally could be attributed to the company starting enrollment for its novel non-invasive bioelectronic device approach to vagus nerve stimulation.
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The company announced that it was funding the study conducted by the Feinstein Institutes for Medical Research and had received study approval from the Institutional Review Board (IRB). The health tech company then started enrolling participants into the clinical trial.
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Today’s rally higher in Tivic’s stock price was driven by yesterday’s announcement of the clinical trial progress. However, the company released its Q2 2023 earnings results on August 14, 2023, and we could also attribute the rally higher to the earnings results.
An Institutional Review Board (IRB) is an FDA-registered group formally designated to review and monitor biomedical research involving human subjects. An IRB has the authority to approve or require modifications to secure approval or disapprove research studies based on FDA regulations.
An IRB serves a crucial role in protecting the rights and welfare of human research subjects. The Feinstein Institutes for Medical Research has initiated the recruitment and completed the first patient enrollment of subjects in the study while collaborating with Tivic Health Systems.
The company’s earnings revealed that its gross profit margin in Q2 2023 was higher than in 2022, while its total revenues shrunk by almost half compared to 2022. The company’s net loss was smaller than in the previous year.
The pilot study will use a new neurostimulation approach with 20 individuals combined with data analysis and algorithm development conducted by researchers at the Feinstein Institutes’ Institute of Bioelectronic Medicine.
The study could provide wider targeting strategies of stimulation and more control over the types of physiologic effect that results from stimulation.
Jennifer Ernst, CEO at Tivic, said: “We’re excited for the proprietary value this work has the potential to deliver as we continue to explore expanding Tivic’s non-invasive bioelectronic solutions to vagus nerve pathways and other clinical uses,”
The Tivic Health stock price.
The Tivic Health stock price was trading up 52.24% at $0.1020 from Wednesday’s price of $0.0670.
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