BioElectronics Corp held a conference call where clinical update of ActiPatch device was provided.
We were once again able to exceed our wildest expectations relative to investor attendance with nearly 1,200 dialing in to hear the presentations. Investors continue to aggressively seek information about our unique patented, drug-free alternatives to pain management and healing, commented Andrew Whelan, CEO of BioElectronics, Corp. Our goal is to revolutionize pain management and healing. The consumer of today is conditioned to reach for a pill when they have an ache or pain. We believe we can change this consumer behavior and believe this represents a market opportunity potentially worth hundreds of millions of dollars to our company and its investors.
David G. Genecov, M.D. FACS FAAP, provided preliminary data on a heel and foot pain study. The study showed strong efficacy and 100% safety using the ActiPatch device. The study also showed that study participants were able to reduce their use of acetaminophen significantly. Acetaminophen is the active ingredient in Tylenol, and non-steroidal anti-inflammatory drugs (NSAIDs). Considering the recent FDA panel recommendation relating to acetaminophen usage, all these results are highly significant.
With data expected over the next few months clinical studies in the areas of breast augmentation, Cesarean section, Uveitis, and several areas of surgical recovery are quickly coming to a close. Based the data provided by the Genecov study, the management team plans to accelerate its FDA 510(k) pre-marketing clearance filing for general musculoskeletal complaints designed to lead to over-the-counter approval and the company will soon submit another application of 510(k) pre-marketing clearance for general surgical recovery as well.