Vivos Therapeutics (VVOS) stock gained in the pre-market. It was valued at around $2.40, gaining more than 47.23% from the previously closed value. At the end of the last trading session, the stock closed at approximately $1.63. The stock traded volume in the previous trading session was 123K shares.
Reason for VVOS stock gain
Vivos Therapeutics (VVOS) announced that its Sleep Apnea Tests had seen significant increases in several key metrics from SleepImage Home.
The three months ended December 31, 2021, compared to the same period in 2020, observed an 18-fold increase in the number of HSTs given by Vivos trained dentists (known as VIPs). There was a 5.7-fold increase in VIP HST administrators and a 3x increase in average HSTs per VIP.
This significant improvement in-home sleep testing performance enabled Vivos to restructure its commercial deal with SleepImage. It will lower costs and turn the diagnostic program into a cash cow. Vivos will now lease SleepImage ring recorders to Vivos-trained dentists for a fixed monthly fee that includes diagnostic sleep test reports.
More than one billion people worldwide and 54 million Americans have sleep apnea, with 80% undiagnosed. Stress, anxiety, and depression can all be caused by sleep apnea. The Vivos System non-surgical treatment protocol addresses dental tissue anomalies and malformations associated with OSA. Instead of requiring lifetime use of CPAP machines or surgical procedures, patients treated with the Vivos System typically finish therapy in 12 to 24 months and rarely require further treatment.
Effect on the stock
Vivos Therapeutics (VVOS) was declining, but its announcement of results for the study on sleep apnea lifted it. Investors are investing in its stock, seeing the potential of VVOS gaining more in the future.
Conclusion
The stock of Vivos Therapeutics (VVOS) gained following the news of its success in the study conducted. The new results are promising, and the company hopes that it will help them regain the stock value once they go commercial with the treatment. The treatment targets millions of patients in the US and across the globe and will increase its market share.
