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"Consumer advocacy group Public Citizen last week urged the Food and Drug Administration to investigate BioCorRx and Louisiana's Department of Public Safety and Corrections.
Although Naltrexone is FDA-approved and has existed for decades in both pill and injectable form, the implant version has not been cleared for use on humans, Public Citizen said in a Nov. 20 letter. The group also said BioCorRx should have conducted the clinical trial in coordination with a FDA review board."
WRONG!!!!!!!! the prisoner said it worked and thanks his life to it.
WRONG!
In order for the implant to be used in the first place it had to be signed off by a Judge, a Physician and the patent.
Second the implant has been legally used for over 4 years under the Federal Drug Compounding and off label laws.
While the company can not sell an implant because the delivery system is is not FDA approved for sale a Physician can have a compounding Pharmacy make one from the approve drug naltrexone and the Physician can implant it legally.
Compounding Laws and Policies
TIMBER! - BICX IN BIG TIME TROUBLE!
https://www.cbsnews.com/news/opioid-addiction-treatment-former-addict-says-implant-changed-his-life-critics-call-him-a-guinea-pig/?intcid=CNI-00-10aaa3a
"Although Dutruch said the treatment has helped him turn his life around, some critics say he has been used. Consumer advocacy group Public Citizen last week urged the Food and Drug Administration to investigate BioCorRx and Louisiana's Department of Public Safety and Corrections.
Although Naltrexone is FDA-approved and has existed for decades in both pill and injectable form, the implant version has not been cleared for use on humans, Public Citizen said in a Nov. 20 letter. The group also said BioCorRx should have conducted the clinical trial in coordination with a FDA review board.
"The failure to comply with the requirements for the protection of human subjects represents a serious violation of the basic ethical principles of respect for persons, beneficence and justice," Dr. Michael Carome, Public Citizen's health research director, said in a statement. "A drug company should not be allowed to go into a prison and start treating the inmates like unwitting guinea pigs."
Public Citizen said it obtained emails between BioCorRx and Louisiana corrections officials that show the company didn't seek FDA approval to test the implant."
when speaking to their investor relations they also said that they still plan on up listing and it has nothing to do with withdrawing their s1. they said everything is still on track. so maybe a good time to buy more now that it fell under 4 dollars again...
I spoke to their pr company and they said that they withdrew the s1 because they did not need to raise anymore money because they got that 6 mill from one of their board members
It seems like when the grant money is gone so is bicx. They seem to be making no progress on any of their priorities.
It seems like when the grant money is gone so is bicx. They seem to be making no progress on any of their priorities.
Maybe they are going back to Penny stock land and reverse the reverse split
Why are they not uplisting
Why are they not uplisting
Is there anyway positive to look at this news?
More troulbe! - BICX files Withdrawal of Registration Statement with SEC
https://www.sec.gov/Archives/edgar/data/1443863/000147793219007007/bicx_rw.htm
Look for an FDA letter to BICX warning them from using implants not approved by the FDA
then look for a second letter from the FDA demanding that BICX stop with the implant program until it is approved by the FDA
then look for the SEC Division of Enforcement getting involved with BICX and a potential suspension of the stock
This prisoner knew what they were signing up for.. I am sure that they signed something acknowledging that.. Brady is not stupid!!
They were aware it was not FDA approved... the best thing is that it worked!! this prisoner admits it worked!!! I hope he takes it to court and this news goes viral... All the great publicity because that's the best free publicity they can get!!! it worked!!! this prisoner is trying to capitalize on suing a company that helped him!! a very opportunistic move in the worst way!! go bicx! Hope everyone will be aware of this!! approve it FDA!! look at it.. it works!!!
First: the implant can't be a scam if it works...
Second: the implant was donated not "sold"
Third: You're allowed to use something not approved by the FDA if that's disclosed, which in this case it was. The individual himself said he was aware of that fact.
Thank you...pleasure doing business.
Huh?
what court?
Let just see what scam company BICX does after the FDA prohibits BICX from selling and using these implants in the market until it is fully tested in humans
then there is the criminal liability for already using drugs not approved by the FDA
IT WORKED!!! THAT IS THE TAKE-AWAY FROM THIS!! IT WORKED!!! GO BICX!!
That's not going anywhere in court.
"Consumer advocacy group Public Citizen last week urged the Food and Drug Administration to investigate BioCorRx and Louisiana's Department of Public Safety and Corrections.
Although Naltrexone is FDA-approved and has existed for decades in both pill and injectable form, the implant version has not been cleared for use on humans, Public Citizen said in a Nov. 20 letter. The group also said BioCorRx should have conducted the clinical trial in coordination with a FDA review board."
TIMBER! - BICX IN BIG TIME TROUBLE!
https://www.cbsnews.com/news/opioid-addiction-treatment-former-addict-says-implant-changed-his-life-critics-call-him-a-guinea-pig/?intcid=CNI-00-10aaa3a
"Although Dutruch said the treatment has helped him turn his life around, some critics say he has been used. Consumer advocacy group Public Citizen last week urged the Food and Drug Administration to investigate BioCorRx and Louisiana's Department of Public Safety and Corrections.
Although Naltrexone is FDA-approved and has existed for decades in both pill and injectable form, the implant version has not been cleared for use on humans, Public Citizen said in a Nov. 20 letter. The group also said BioCorRx should have conducted the clinical trial in coordination with a FDA review board.
"The failure to comply with the requirements for the protection of human subjects represents a serious violation of the basic ethical principles of respect for persons, beneficence and justice," Dr. Michael Carome, Public Citizen's health research director, said in a statement. "A drug company should not be allowed to go into a prison and start treating the inmates like unwitting guinea pigs."
Public Citizen said it obtained emails between BioCorRx and Louisiana corrections officials that show the company didn't seek FDA approval to test the implant."
FINALLY A NEW BRADY INTERVIEW LINK https://www.proactiveinvestors.com/companies/news/908472/biocorrx-presents-new-preclinical-data-showing-vdm-001-blocks-fentanyl-908472.html
https://www.cbsnews.com/news/opioid-addiction-treatment-former-addict-says-implant-changed-his-life-critics-call-him-a-guinea-pig/?intcid=CNI-00-10aaa3a
LOLOL...some guy really trying to sue BICX for helping folks get freedom from addiction. Unbelievable. Good luck with whatever BS argument he has and what a waste of time.
Any publicity is good publicity I guess.
Found this in YAHOO! FINANCE
https://finance.yahoo.com/news/biocorrx-subsidiary-biocorrx-pharmaceuticals-provides-133010055.html
that is great news. wonder why brady hasn't ever mentioned this. why has he been so quiet. they have to be working on something! GO BICX
I think it’s obvious at this point what he meant ! ??
Can you expand on your evaluation “Timber”?
TIMBER! BICX files 10Q
https://www.sec.gov/Archives/edgar/data/1443863/000147793219006570/bicx_10q.htm
Remember we don't have a whole lot of shares outstanding. Won't take much to move.
It only took 12K shares to move bicx over 50%. There is also a bid for 4125 x $4 - someone must know something. Maybe they got some whales at the conferences the last 2 weeks.
Somethings up
Up 50% trading at $4. Hmmm
Whoaaa! $2.46 - New 52 week Low!
how long before the stock price drops to below $2.00?
below $1.00?
Are you saying BICX didn’t raise $6,000,000?
actually, the big question would be as to when the SEC Division of Enforcement would begin initial fraud inquiries on the the BICX fraudulent $15.00/share private placement statements in its press releases
has BICX already received a Wells Notice from the SEC?
Where do you estimate this company would be today if this investment had not been made starting back in 2016. Do you know their history? Did they have anti dilution protection? Did they get more stock than what was agreed to for their original investment. It’s ok to disclose to shareholders and the readers here on the boards any topic you would like to share but let’s be factual. Why don’t you try to reach out to their IR? It sounds like you must have a significant investment in BICX. I just want to help you out.
scam company BICX changed that figure in the last 10Q
now the $4.16 million conversion of the note results in "only" a 70% increase in common shares outstanding - considered MASSIVE DILUTION by any measure
and...
in today's PR, BICX continues with the fraudulent false and misleading comments on the $15.00/share pricing of the private placement, which BICX's own SEC filings have now corrected to a much lower price per share due to the substantial value received by the investors from the Royalty Agreement, in addition to the common shares in the private placement...
but hey, not surprised
and why is this not surprising?
because this is what scam companies do!
But didn’t you say it was going to be 318,000,000 shares? Why is it now much less.
BICX files 8K after close on Friday-Massive Dilution
As $4.16 million note is converted at $1.87/share into about 40% of the total common shares outstanding of BICX after the conversion.
TIMBER!
https://www.sec.gov/Archives/edgar/data/1443863/000147793219005729/bicx_8k.htm
Item 1.01 Entry into a Material Definitive Agreement.
On October 1, 2019, BioCorRx Inc., a Nevada corporation (the “Company”), entered into a Conversion Agreement (the “Conversion Agreement”) with BICX Holding Company LLC, an entity controlled by Alpine Creek Capital Partners (the “Investor”), pursuant to which the parties agreed to the conversion (the “Conversion”) of the Senior Secured Convertible Promissory Note in the principal amount of $4,160,000 (the “Note”), which was issued by the Company to the Investor on June 10, 2016, into 2,227,575 shares (the “Conversion Shares”) of the Company’s common stock, par value $0.001 per share (the “Common Stock”).
In connection with the Conversion Agreement, on October 1, 2019, the Company and the Investor entered into a Lock-Up Agreement (the “Lock-Up Agreement”) pursuant to which the Investor will not sell, or otherwise dispose of the Conversion Shares, during the period commencing on October 1, 2019 and ending six (6) months following the initial closing of the Company’s intended public offering of its securities to raise gross proceeds to the Company of at least $10,000,000 (subject to adjustment in the Company’s sole discretion) (the “Public Offering”). In the event that the Public Offering is terminated or abandoned prior to closing then the lock-up shall expire upon the later of the date which is six (6) months from September 30, 2019 or thirty (30) days from the date of such termination or abandonment.
The Conversion Agreement and the Lock-Up Agreement are dated September 30, 2019, however, the documents were fully executed on October 1, 2019.
Pursuant to the Conversion Agreement, the Investor has agreed that the Total Interest Payment (as defined in the Conversion Agreement) that would have been due under the Note, in the amount of $1,138,156.71, will be reflected on the Company’s financial statements as an amount due and owing to the Investor to be repaid within twelve (12) months of the closing of the Public Offering, or if the Public Offering is terminated or abandoned prior to closing, then on or before such date that is no later than twelve (12) months from the date of such termination or abandonment.
Item 1.01 of this Current Report on Form 8-K contains only a brief description of the material terms of the Conversion Agreement and the Lock-Up Agreement and does not purport to be a complete description of the rights and obligations of the parties thereunder, and such descriptions are qualified in their entirety by reference to the full text of the Conversion Agreement and the Lock-Up Agreement, the forms of which are attached as Exhibits 10.1, and 10.2, respectively, to this Current Report on Form 8-K.
Item 2.03 Creation of Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
The applicable information set forth in Item 1.01 of this Current Report on Form 8-K is incorporated by reference in this Item 2.03.
News out - BioCorRx Announces Capital Restructuring and Provides Business Update
Anaheim, CA - (NewMediaWire) - October 07, 2019 - BioCorRx Inc. (OTCQB: BICX) (the “Company”), a developer and provider of advanced solutions in the treatment of substance use disorders, today provided a business update and reported progress on the development of BICX102, the Company’s sustained release naltrexone implant for the treatment of opioid and alcohol use disorders. The Company also announces that the Senior Secured Convertible Promissory Note of $4.16 million with BICX Holding Company LLC, an entity controlled by Alpine Creek Capital Partners, was converted into 2.22 million shares of common stock in order to simplify the Company's capital structure and further enhance its balance sheet.
Additional details of the transaction are available in the Company’s form 8K filed with the Securities and Exchange Commission and is available on the Company’s website: https://www.biocorrx.com/
Brady Granier, CEO, President, and Director of BioCorRx, Inc., stated, “We achieved a number of major milestones so far this year. Most recently, we are pleased to announce that we have converted the note with Alpine Creek Partners, which will eliminate $4.16 million of liabilities from our balance sheet. This will significantly enhance our capital structure and dramatically improve our balance sheet in order to prepare us for the planned up-listing to the Nasdaq Capital Markets. Alpine Creek has been a strategic partner since 2016 and they have helped us, not only financially, but with several key introductions to many of our current personnel on the business and scientific side of the company.”
“In the beginning of the year, we announced that we were awarded a 2-year grant from the National Institute on Drug Abuse (NIDA), part of the National Institutes of Health (NIH) for the development of BICX102, which is substantially covering our path to FDA approval financially. We believe this grant further validates the clinical potential of BICX102 for the treatment of opioid and alcohol use disorders.”
“Our goal is to rapidly advance BICX102 through the regulatory pathway. Towards that end, we have partnered with IRISYS to manufacture and develop BICX102. IRISYS brings extensive and valuable experience beyond manufacturing that should also contribute to our success as we move forward through the clinical and regulatory process for BICX102. We also entered into a Master Services Agreement with Charles River Laboratories, Inc., who is currently conducting preclinical studies of BICX102 which started in the summer. If things go according to plan, our goal is to start conducting human studies next year.”
“Notably, we raised $6 million in a private placement at $15 per share, which was significantly above market. We are extremely pleased with the terms of this funding, and appreciate the support from the two investors, one of whom is Louis Lucido, a director on our board. We believe this funding further validates our business strategy, product pipeline, and the growth opportunities ahead.”
Lourdes Felix, CFO, COO and Director, stated, “We have made tremendous progress this year towards advancing BICX102 through the regulatory pathway. Recently, we have launched our UnCraveRx™ program which is a medically assisted weight loss management program that helps to reduce food cravings combined with on-demand virtual lifestyle support, fitness and nutrition. We estimate that the program will be a key growth revenue driver for BioCorRx and we are looking forward to expanding our provider network. Our business-to-business model, for physicians and medical professionals, will help to improve our providers’ client outcomes by helping them stay on track with their weight loss goals. We believe this program coupled with the private placement funding and the NIDA grant award of nearly $5.7 million for BICX102, will allow us to accelerate our product development and growth strategy, which has the potential to drive significant value for our shareholders.”
About BioCorRx
BioCorRx Inc. (OTCQB: BICX) is an addiction treatment solutions company offering a unique approach to the treatment of substance use and other related disorders. The BioCorRx® Recovery Program is a non-addictive, medication-assisted treatment (MAT) program for substance use; please visit www.beataddiction.com for more information on the BioCorRx Recovery Program. The UnCraveRx™ Weight Loss Program is also a medication assisted program; please visit www.uncraverx.com for more information on UnCraveRx™. The Company also conducts R&D under its controlled subsidiary, BioCorRx Pharmaceuticals. For more information on BICX and product pipeline, please visit www.BioCorRx.com.
Safe Harbor Statement
The information in this release includes forward-looking statements. These forward-looking statements generally are identified by the words "believe," "project," "estimate," "become," "plan," "will," and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties. Although the Company believes that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof.
BioCorRx Inc.
investors@BioCorRx.com
714-462-4880
Investor Relations:
Crescendo Communications, LLC
(212) 671-1020 x304
bicx@crescendo-ir.com
Yikes! $2.47 again, ties 52 week low!
someone knows something
and this something is not good
how long before the price drops to below $2.00?
below $1.00?
Sure is Shaggy...got any scooby snacks?
Agreed. They said the reason was to uplist this summer but that didn't happen...positive catalyst being news on the FDA process but radio silence on that as well. Poor investor relations/transparency thus far...
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About BioCorRxProgram OverviewBioCorRx (OTCBB: BICX) is an alcohol treatment and rehabilitation company on the leading edge of alcohol addiction treatment. The company has developed a treatment program that is used by various licensed alcohol addiction clinics throughout the United States. The program consists of two components:BioCorRx has the worldwide rights (except in Australia and New Zealand) to a highly effective, proprietary implant formulation of the FDA-approved drug, naltrexone. After being surgically implanted by a medical professional, the naltrexone implant significantly reduces cravings for alcohol for as long as a year in some patients, depending on individual metabolism rates.BioCorRx also owns a life coaching program that is tailored specifically to alcoholics. Once a patient has received the implant, they are encouraged to enter the life coaching program to maximize results. BioCorRx’s revolutionary alcohol treatment program has an 85% success rate as reported by patients in routine telephone and face to face interviews. The implant is administered as an outpatient procedure, and in most cases, patients do not need to miss more than one day of work. They are then able to enter the private life coaching program without co-workers or family members knowing, unless they so choose. |
TechnologyNaltrexone is a medication that blocks the effects of drugs known as opioids and was approved by the FDA in 1995 for the treatment of alcohol dependence. Learn more about the side effects of naltrexone. Naltrexone blocks the parts of the brain that "feel pleasure” when patients use alcohol. When these areas of the brain are blocked, patients feel significantly less cravings for alcohol and even if alcohol is used, the effects of it will be extremely limited - making sobriety the only option. Once medical intervention has reduced the physical need for alcohol, the program goes on to address the patient's psychological needs. The combination of these treatments has resulted in the highest chance of sobriety. While other companies use naltrexone in their treatments, the drug is typically administered in oral or injection form, requiring their patients to be responsible for taking the medication or scheduling an appointment. While some patients do well with the oral formulation, there is a drawback that it must be taken daily and a patient whose craving becomes overwhelming can obtain the euphoria simply by skipping a dose before resuming abuse. Patients who received the program developed by BioCorRx are treated with a slow release dose that can last up to year in many patients (depending on various factors such as metabolism rates), which gives the patients a higher success rate for the treatment of alcoholism. The outpatient naltrexone implant procedure can take as little as 20 minutes under local anesthetic in some cases. Most patients can return to work or their daily routine in the same day, without the cravings for alcohol. |
Mission, Vision, ValuesMissionBioCorRx is focused on providing leadership and innovation for the treatment of alcoholism by offering a high-quality, comprehensive and cost-effective recovery program that allows patients and their loved ones to celebrate freedom from the cycle of alcohol addiction. Our program is built on a strong foundation of experience and practice, allowing for an improved quality of life for recovering alcoholics. VisionBioCorRx strives to be the preeminent, long-term alcohol recovery program used by treatment centers around the world for alcoholics, as well as their family and friends. By providing patients a "Fresh Start" on life, they have the opportunity to live happier, healthier, more productive lives away from the damaging impact of alcohol. We have built an organization that is committed to nurturing research for cutting-edge alcohol recovery technologies and integrating those technologies with comprehensive alcohol recovery treatment programs. ValuesBioCorRx provides the opportunity and tools to treatment centers so they can help patients live happier, healthier, and more productive lives to those suffering from alcohol addiction (as well as their family and friends) by helping them break the addiction cycle and live alcohol-free. We want patients to celebrate freedom from the past and hope for the future. Our team consists of physicians, coaches, founders and management that are committed to providing high-quality services and adherence to ethical care. Our goal is to give our treatment center partners the ability to deliver our program in a timely, warm and compassionate way to give patients, as well as their families and friends, peace of mind. To achieve this, BioCorRx has built its program around highly-qualified alcohol addiction specialists and effective treatment solutions. We are committed to quality and continuous improvement in order to meet our partners’ needs for an individualized program dedicated to alcohol addiction recovery. |
Investors OverviewBioCorRx is uniquely poised to gain significant market share of the $22 billion annual alcohol treatment market in the US. More than 7% of the US population ages 18 years and older or 13.8 million Americans have problems with drinking, including 8.1 million people who suffer from alcoholism. And the costs financially are staggering. Alcohol dependency and abuse costs the US over $220 billion a year. For the sake of comparison, this is greater than the amount of money spent to combat cancer ($196 billion) and obesity ($133 billion). BioCorRx intends to distribute the program to a new clinic in the United States every 60 to 90 days. Clinics using our program are also holding discussions with major health insurance providers to pay for all or a portion of the treatment fees. Business ModelBioCorRx’s research has discovered that demand for its services are high and that growth in highly marketed segments of the population may be achieved through partnering with additional clinic sites. The company is also exploring the sub-licensing of the program to select regions of the US and internationally. BioCorRx's goal is to meet its growth targets through licensing opportunities by promoting its naltrexone implant product and counseling service model to existing medical clinics and treatment centers that will purchase the program and/or product from the company. In addition, Fresh Start Private intends to open corporately owned clinics in select key markets where it is deemed appropriate. Stock Price & ChartsBioCorRx is a fully reporting company. Financial reports and other reports are available for view or by visiting the OTCBB.com online website. Audited financial reports are available quarterly. Company Structure Details
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BICX Chart
Key Executives
• Kent Emry - CEO, Director
• Brady Granier -COO, Director
• Lourdes Felix -CFO, Director
• Dr. Jorge Andrade, Jr. - Director
• Neil Muller -Co-Founder and President, Director
Locations
Locations of independently owned clinics using our Fresh Start Program
Start Fresh Recovery
720 N. Tustin Ave.
Suite 206
Santa Ana, CA 92705
714-541-6100
800-916-1099
www.startfreshrecovery.com
www.stopdrinkingUSA.com
Start Fresh Executive Recovery
367 E Virginia Ave
Phoenix, AZ 85004
855-393-HOPE (4673)
www.ExecutiveRecovery.net
Fresh Start Private Florida
1415 Panther Lane
Suites 313-320
Naples, FL 34109
800-985-7574
www.FreshStartPrivateFlorida.com
Start Fresh Alcohol Recovery Center
2827 S. 88th St
Omaha NE 68124
402-884-1221
www.startfreshNE.com
Coming Soon!
Insider Interview Links
December 2, 2013 - thewallstreetanalyzer.com Interview with Brady Granier COO
November 14, 2013 - SmallCapVoice Interview with Kent Emry CEO
October 2, 2013 - SmallCapVoice Interview with Brady Granier COO
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