Biocorrx Inc (OTCMKTS:BICX) Is An Opioid Crisis Play

Are you aware of the dramatic opioid epidemic in the United States? It is devastating for the country. Many have already said that it is one of the most significant problems in the country. President Trump, for instance, said recently that it is a national public health emergency.We identified this dramatic situation and looked for several companies providing treatment for substance abuse addiction. We believe that they do not only bring an opportunity to help people. Instead, they represent a significant market opportunity because the amount of treatments demanded is growing and increasing the revenues of addiction treatment companies.One of the most exciting business profiles operating in this sector is Biocorrx Inc. (OTCMKTS:BICX), which was founded in 2008 and is headquartered in Anaheim, California. It was featured by us nine months ago in an article, in which many useful facts were pointed out. First of all, the most interesting was the positive preliminary data from preclinical studies evaluating BICX101; the company's product. Additionally, we appreciated that the Fox Channel had also featured the company, which, we believe, should have increased awareness.Is there any new information?Yes, firstly, judging by the bull action in BICX’s stock price, it’s time to take a closer look at Biocorrx Inc. Have a look at it: 1-month chart for BICXBut, there is more to be noted. The most significant is the submission of pre-Investigational New Drug package to the U.S. Food and Drug Administration for the BICX102. Also, new agreements with several organizations, such as the National Institute on Alcohol Abuse and Alcoholism, and several distribution contracts seem to be making the share price pop up. We will tell you everything that you need to know in this new update.Recent DevelopmentsIn December 2017, we could see how BICX's share price increase violently as a result of much good news regarding the company. But, the truth is that the market has been receiving intelligence noting company’s growth for the last 6 months. Let us provide the most significant press releases.On September 12, 2017, it released the completion and beta launch of the company's proprietary mobile application for use by licensed behavioral specialists and individuals in treatment for opioid and alcohol use disorders. It was ready in the Apple App Store and Google Play on September 21, 2017. BICX had collaborated with DynamiCare Health™, Inc. in designing this new tool, which helps counselors and therapists remotely monitor the progress of their patients as they complete the BioCorRx CBT program. It is a great business innovation that should increase the revenues because the number of patients will improve.On October 5, 2017, a new business line was announced. BICX had decided to commence a pilot program for weight-loss with Atlantis Medical Wellness & Weight Loss Center in Silver Spring, MD. The idea is quite ambitious and smart, as the market in which the company will be entering is large. According to the CDC, more than one-third (36.5%) of U.S. adults have obesity and the estimates of current healthcare costs of obesity range from $147 billion to nearly $210 billion per year. This news noted again that the company is looking for expanding its products, which, we believe, will help the business grow in the new year 2018. On October 25, 2017, the company noted that Advanced Spine and Pain would implement the BioCorRx® Recovery Program in all nine locations in the Maryland and Virginia area. It was not said when the revenues from this new client would be shown to the market, but we encourage readers to be very alert. In the next quarter, the top of the P&L could increase as a result of this new agreement. Only those who were able to read this news will be able to know why.It seems that the treatment offered by BICX commenced becoming well-known in the sector by the end of 2017. We made this impression after the company released a confidentiality agreement with the National Institute on Drug Abuse. It was big news, as this is the United States federal-government research institute; in charge of "advancing science on the causes and consequences of drug use and addiction." Also, it was noted that NIDA agreed to participate as an observer at the pre-IND meeting for BICX102 with the FDA, which is scheduled for January 24, 2018.Regarding the relations with the FDA, be sure to follow the company in January 2017. Everything seems to be ready for these meetings after the company released in December that it had submitted its pre-Investigational New Drug package to the U.S. Food and Drug Administration for the Company's naltrexone implant, BICX102. In the following weeks, we will get to know some conclusions from the FDA regarding the commercialization of BICX102. It could push the share price higher.The Government of the US was not the only institution interested in BICX102 in 2017. CereCare, LLC, for instance, also announced that it would become a partner of BICX. This company will be investing $100,000 and receive restricted shares in BioCorRx plus performance-based options for reaching certain milestones. CereCare will have exclusive distributorship rights for the BioCorRx Program in Nevada, subject to specific performance criteria. This company, which operates medical clinics under its CereCare in Los Angeles, Sherman Oaks, California and Reno, Nevada, seems to believe that the new treatment will be successful. They will be financing some of the company's expenses and will be able to profit from the distribution rights.What did finally make the share price increase?The previous news did not seem to excite the market, as the share price did not move much. We believe that the share price did not spike until the BioCorRx® Recovery Program was featured on CBC affiliate WBNS-10TV news in Ohio.The most interesting note in the news was that the treatment was accepted instead of conviction by a Richland County judge in Ohio. In our opinion, if other judges in other States commence allowing the treatment, it will push up the revenue line. Be sure to look for this type of news from the company.ConclusionCurrently trading with a market cap of $40 million, BICX is an exciting story among small caps. The company shows $0.28 million in cash, $0.6 million in total assets, and $3.2 million in total liabilities. Additionally, the company made $0.7 million in total revenues in 2016 and reported $0.14 million in revenues for the quarter ended September 30, 2017. We believe that with the growth recently shown, it will not be difficult to refinance the balance sheet to sustain future growth. Other companies, like CereCare, LLC, may be interested in doing so.Be sure to check out our coverage on BICX!We will be updating our subscribers as soon as we know more. For the latest updates on BICX, sign up below!Disclosure: We have no position in BICX and have not been compensated for this article.Image courtesy of frankieleon via Flickr