BioCorRx Reports Business Update for the Third Quarter of 2023
ANAHEIM, CA, Nov. 14, 2023 (GLOBE NEWSWIRE) -- via NewMediaWire – BioCorRx Inc. (OTCQB: BICX) (the “Company”), a developer and provider of innovative treatment programs for substance abuse and related disorders, today provided a business update for the three months ended September 30, 2023, and reported on recent corporate developments.
Lourdes Felix, CEO, CFO, and Director of BioCorRx Inc., commented, “We believe that the high and sustained concentrations of naltrexone released by BICX104 hold the potential to significantly curtail opioid overdose deaths. Our positive safety and pharmacokinetic (PK) results for the Phase I clinical trial showed that BICX104 was generally well-tolerated, with no serious adverse events, and provided subjects with therapeutic levels of naltrexone for a mean of 84 days. With the emergence of fentanyl as the leading cause of death for 18–49-year-olds as reported by The Washington Post after they analyzed 2021 CDC data, we believe that by providing enhanced relapse protection during the crucial early stages of treatment, BICX104 can make a significant impact on this drug epidemic.
“Additionally, we continue to carefully manage our expenses. We reduced our total operating expenses by over $600,000 for the nine months ended September 30, 2023 compared to the same period last year. Overall, we remain encouraged by the outlook for the business and look forward to providing additional operational and regulatory updates soon,” concluded Ms. Felix.
A copy of the Company’s quarterly report on Form 10-Q for the third quarter ended September 30, 2023, has been filed with the Securities and Exchange Commission and posted on the Company’s website at https://ir.biocorrx.com/.
Information about the study can also be found at www.clinicaltrials.gov under NCT number 04828694.
BICX104 is being developed through a cooperative agreement with the NIDA, part of the NIH, under award number UH3DA047925, funded by the Helping to End Addiction Long-term Initiative, or NIH HEAL Initiative. This award is subject to the Cooperative Agreement Terms and Conditions of Award as set forth in RFA DA-19-002 entitled, Development of Medications to Prevent and Treat Opioid Use Disorders and Overdose (UG3/UH3) (Clinical Trial Optional).
The NIH Helping to End Addiction Long-term® Initiative or NIH HEAL Initiative®, is an aggressive, trans-NIH effort to speed scientific solutions to stem the national opioid public health crisis. Launched in April 2018, the initiative is focused on improving prevention and treatment strategies for opioid misuse and addiction and enhancing pain management. For more information, visit: https://heal.nih.gov.
According to the National Institute of Health opioid use disorder and opioid addiction remain at epidemic levels in the US and worldwide. Three million US citizens and 16 million individuals worldwide have had or currently suffer from OUD. More than 500,000 in the United States are dependent on heroin.