BICX - BioCorRx FY22 revenue grows 343% Y/Y

2023-04-03 14:14:05 ET

• BioCorRx ( OTCQB:BICX ) FY22 net revenues grew +343% Y/Y to $213.84K due to increased number of patients treated at licensed clinics.
• "Furthermore, we were pleased to see that membership/program fees also increased for 2022 due to more customers signing up for our UnCraveRx™ Weight Loss Management Program. At the same time, we continue to carefully manage expenses and reduced operating expenses by nearly 12%," said BioCorRx CEO, CFO and Director Lourdes Felix.
• Net loss narrowed to -$4.38M compared to -$5.21M in 2021. The decline was mainly due to decreased operating expenses, according to the company.
• Felix added that "2022 was a transformative year for BioCorRx, as we made significant progress advancing the Phase I clinical trial of BICX104, an implantable biodegradable naltrexone pellet for the treatment of opioid use disorder (OUD).
• BICX104 is being developed under an agreement with the NIDA, part of the NIH, under award an funded by the Helping to End Addiction Long-term Initiative (NIH HEAL Initiative).

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