Medigus Ltd (NASDAQ:MDGS) Stock In Focus After Recent Developments
Shares of Medigus Ltd (NASDAQ:MDGS) have been trading within a range over the past few trading sessions.
Market Stats
On Friday, MDGS stock fell 2% at $1.48 with more than 647K shares, compared to its average volume of 723K shares. The stock has moved within a range of $1.4300 – 1.5300 after opening the trade at $1.53.
Achieved Major Milestone of Successful Procedure in China Using FDA Approved MUSE™ System
Technology company engaged in advanced medical solutions, electric vehicle charging solutions and innovative internet technologies, Medigus Ltd (NASDAQ:MDGS), on November 5, 2021 announced achieving a milestone as part of sale agreement with Golden Grand for use and sale of Medigus’ FDA approved MUSE system in Hong Kong, China, Taiwan and Macao.
Golden Grand communicated on completing procedure harnessing the MUSE system, in which a patient was discharged within 48 hours of the procedure, which was broadcasted live on Chinese TV.
This is one of the key milestones of the firm, as per the sale and licensing agreement with Golden Grand. For achieving the same, Mediguswill be getting payment of $600,000and a total of $2.4 million together with previous payments for the milestones achieved. The final milestone, for an extra $600,000, will happen during first half of 2022.
The company is engaged in a strategy of finding new partners through similar such licensing and sales agreements in territories globally. A single-use, flexible and transoral stapler merging latest advancements in ultrasonic and surgical stapling, the MUSE system is equipped with a range finder and ultrasonic sight. This enables a single physician to perform an incisionless transoral fundoplication.
Medigus’ affiliates in digital commerce include Gix Internet Ltd, Jeff’s Brands Ltd. and Eventer Technologies Ltd whereas in EV market, Revoltz and Charging Robotics Ltd are part of the firm’s portfolio of technology solution providers.
Traders Corner
MDGS stock is trading below the 20-Day and 50-Day Moving averages of $1.49 and $1.49 respectively. Moreover, the stock is trading below the 200-Day moving average of $1.90. The stock is up 7% in the past 3-month.
