Vivos Therapeutics Inc. (NASDAQ: VVOS) stock gained by 72.39% in the current market trading session. Vivos Therapeutics is a medical technology business specializing in the development and commercialization of novel diagnostic and therapy methods for adult patients with mild to severe obstructive sleep apnea.
What’s happening in VVOS stock?
The US Food and Drug Administration (FDA) has given Vivos Therapeutics’ mmRNA device 510(k) market approval for curing mild to medium OSA, sleep-disordered breathing, and snoring in adults. This FDA approval allows for increased insurance coverage for the mmRNA device, notably Medicare, as well as potential government contracts and reimbursement from private payers that follow Medicare rules.
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Sleep apnea affects over 1 billion individuals worldwide, including 54 million Americans, with 80 percent of cases going untreated. Sleep apnea is a significant chronic disorder that raises the risk of comorbidities such as hypertension, heart failure, stroke, diabetes, dementia, and other life-threatening illnesses. The dental tissue abnormalities and malformations linked to OSA are addressed with Vivos oral appliances. Patients receiving the Vivos System, despite existing standard-of-care treatments, generally finish their therapy in 12 to 24 months and, in most circumstances, do not need lifetime intervention.
Kirk Huntsman, Vivos Chairman and CEO stated,
The FDA’s approval of Vivos’ newest product, the mmRNA appliance, is a huge step forward in their efforts to deliver the best possible therapy for patients who are still suffering needlessly from OSA. OSA is a severe disease that can lead to or exacerbate a variety of chronic health problems. Medical physicians and dentists need next-generation devices like the mmRNA to keep moving forward in their collaborative aim to provide patients with a better option for properly curing their OSA. Furthermore, the FDA’s approval of the mmRNA allows us to extend commercial insurance reimbursement, which will soon include Medicare, making this a more cost-effective treatment option for OSA patients.