In the pre-market trading Motus GI Holdings Inc. (NASDAQ: MOTS) stock gained 41.28% after declining by 2.68% at last close. The recent rally comes after an FDA approval. Motus GI Holdings is a medical technology corporation with branches in the United States and Israel that provides endoscopy solutions that improve health outcomes and reduce the cost of diagnosing and treating gastrointestinal disorders.
What is happening?
MOTS announced today that it has obtained 510(k) approval from the US Food and Drug Administration for a variant of the Pure-Vu System that is consistent with gastroscopes used in the upper GI endoscopy procedures to remove blood, blood clots, and debris, allowing the endoscopist to see a broad visual field. This proprietary technology is the most recent addition to the Pure-Vu System platform, which is explicitly made to operate with therapeutic gastroscopes to allow for safe and rapid cleaning during the procedure while maintaining the procedure’s existing workflow and methods.
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According to iData Research Inc., nearly 400,000 cases of upper GI bleeds happened in the United States in 2019. Blood and blood clots in these patients will obscure a physician’s vision, rendering it impossible to pinpoint the cause of the bleed. MOTS assumes that eliminating adherent blood clots from the field of vision is critical in helping a surgeon to locate and manage the cause of the bleed.
About Pure-Vu System,
The Pure-Vu System works with normal and slim colonoscopes to enhance visibility during a colonoscopy while maintaining defined operational procedure by irrigating and evacuating debris to provide a higher-quality test. Difficulties with bowel preparation for inpatient colonoscopy, especially in the elderly, those with comorbidities, or those with active bleeds, pose a major unmet need that has a direct impact on health outcomes and raises the cost of treatment.
Motus GI Holdings has announced that they will report their first-quarter financial results on Thursday, May 13, 2021, after the market close.