What’s up everyone, so in this video we’re going back to the biotech sector as I share
with you updates on one FDA approved penny stock.
This penny stock has not only got an FDA approved device for monitoring cardiac conditions,
but is already revenue generating with a clear path to address the $6bn addressable market
opportunity.
With soaring rates of chronic disease overwhelming the healthcare system, the opportunity is
ripe for technology that enables physicians to diagnose and monitor patients with chronic
conditions.
So with physicians’ input and their deep knowledge of the industry, they set about
creating solutions that bridge the gap in the marketplace between the healthcare system
and the people being treated.
And as we know, Cardiac issues are intermittent, and lifelong in nature, requiring continuous
heart activity monitoring.
The issue with fitness trackers is that they simply collect your heart rate and a few minutes
of data, leaving you without the full picture.
But this gems FDA approved product changes everything by creating the first heart activity
monitor.
Whether you are sleeping, sitting, or out exploring the world, their uninterrupted monitoring
keeps you informed about your heart 24/7.
So clearly some life changing stuff here worth paying attention to.
So make sure you stick around to the very end to hear their CEO sharing insights on
their outlook and competitive advantage in this $6bn market.
That said please drop a quick like on the video and hit the bell, so we can get on with
it with and talk about Biotricity Inc (Nasdaq: BTCY) which is now sitting at over $1 per
share with a market cap $53.7m.
And on a ytd perspective it is sitting down 73%, which is a similar story to most stocks
out there at the moment.
It hit ytd lows at 79cent per share but has since bounced to current levels but still
stands in very deep value territory stocks.
What’s interest here is that this stock is revenue generating and their share price
has recently taken a hit on the back of their latest earnings call where they markets have
been very brutal and punishing on any misses.
And they were clearly no exception.
So I think what we need to pay attention to now is what catalysts, which they have in
the tank for a possible turnaround going forward.
And as we always aim to buy low and sell high you want to ensure you do your DD and get
in only at a price which is right for you, as patience is always required in this space
and I feel there just couldn’t be a better time to watch this stock given the deep value
they are presenting..
So here’s what’s new with Biotricity.
Biotricity is a modern medical technology company focused on delivering innovative,
remote biometric monitoring solutions to the medical and consumer markets, including diagnostic
and post-diagnostic solutions for chronic conditions and lifestyle improvement.
They specialize in remote monitoring solutions for chronic illnesses and adjacent connected
healthcare applications in the diagnostic and post-diagnostic markets, for both medical
and consumer use markets.
Their R&D focus is the preventative healthcare market, with a vision of putting health management
into the hands of the individual.
So the company aims to support the self-management of critical and chronic conditions with the
use of innovative solutions to ease the growing burden on the healthcare system.
Their flagship product, Bioflux®, is a single, integrated mobile cardiac telemetry solution,
that consists of a proprietary mobile ECG monitoring device and an ECG viewer software
package.
Bioflux® enables physicians to remotely monitor and diagnose patients with cardiovascular
coronary heart disease, by detecting and transmitting probable arrhythmias, along with other diagnostic
heart information.
So together with their proprietary software and 24/7 monitoring center, the Bioflux®
system is a complete solution for remote cardiac monitoring that can be integrated seamlessly
into physicians’ existing workflows.
Before we go any further, let’s hear from their CEO Dr Waqaas Al-Siddiq on their outlook
and competitive advantage which we need to pay
attention to.
How interesting with what seems like some gaps there which the market is not paying
attention to.
Biotricity’s Bioheart was recently named to TIME’s list of The Best Inventions of
2022..
Bioheart is the first of its kind – a continuous heart rhythm monitor using advanced technology
to deliver unlimited heart data insights.
TIME reveals its annual list of the Best Inventions, which features 200 extraordinary innovations
changing our lives.
They pay special attention to growing fields-such as the electric vehicle industry, green energy,
and the metaverse which are evaluated on a number of key factors, including originality,
efficacy, ambition, and impact to create the list of 200 groundbreaking inventions.
Biotricity also reported their financial results for Fiscal 2023 Second Quarter.
Dr. Waqaas Al-Siddiq, their CEO commented that they are pleased with their steady revenue
growth year-over-year and sequentially for the fiscal second quarter.
During this quarter, they have identified key drivers toward a path to profitability,
potentially in the next 18 months, including new distribution partnerships with leading
distribution networks.
Their new partnerships will serve to build out their ecosystem with new physicians in
the industry, but also provide expanded access to a large network of sales representatives.
“Going forward, they are also focusing on going deeper into their physician and hospital
networks by launching new complementary products such as their Biocare Cardiac Disease Management
Solution, as they address the growing unmet need for a comprehensive remote cardiac monitoring
solution.
As with all of their solutions, they focus on expanding their platform with technology-as-a-service
solutions that align with existing reimbursement codes, drive better care and outcomes, lower
costs, and supporting cardiac practice growth.
This comprehensive approach to cardiac care is driving adoption and helping establish
them as a leading medical technology company, which is very interesting.
Their Q2-FY23 Financial Highlights included Revenue totaled $2.4 million, Gross profit
totaled $1.3 million., Gross profit margins were 54%., Net loss totaled $4.9 million.
Still very much loss making but high on the agenda for a turnaround.
And building on that, you can talk of the rubber meeting the road here as Biotricity
signed a Distribution Agreement to expand access for its Cardiac Monitoring Solutions.
They signed a distribution agreement with one of the Top 10 US medical device distributors
to distribute its cardiac monitoring solutions, Bioflux and Biotres.
They said their focus as a company is on advancing their product development and commercialization
to establish Biotricity as the all-in-one, go-to solution for cardiac diagnostics and
disease management.
They are focusing on building relationships with established organizations, with unprecedented
leadership in the industry.
They believe this partnership will be instrumental in advancing the availability of their solutions,
expanding their supply chain, and supporting their growth.
Over the next couple months, we will be providing further details on this partnership as we
begin their rollout.”
With the commercialization of their Bioflux and Biotres products, Biotricity has increased
its total addressable market from $1 billion to approximately $6 billion which is a huge
market to go after.
How very exciting??
So some very very interesting and mind blowing prospects ahead for this biotech penny stock,
but only consider getting in if the price is right for you and if you fully understand
the risks.
This video is not financial advice, a buy or a sell recommendation, but is meant to
bring some new and exciting penny stocks to your attention for you to do your own research..
As always I would love to hear from you, so please let me know your thoughts on these
top penny stocks in the comments section below and what other penny stocks are catching your
eyes lately.
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Thank you so much for being here and I look forward to have you in my next video.
Thank you