MyDx Inc Seeks Medical Device Status For CannaDx
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Posted On: 12/27/2017 7:44:20 AM
MyDx Inc Seeks Medical Device Status For CannaDx
December 27, 2017; MMJReporter, By Brandon Manns
http://mmjreporter.com/mydx-inc-otcmktsmydx-s...3616.htmlv
MyDx Inc (OTCMKTS:MYDX) reported that it has submitted an application and is looking for medical device status in Canada for its products known as CannaDx Handheld Tester as well as for ECOSmartPen so as to make its products increasingly accessible to medical users seeking to manage and track their consumption habits and stop abuse.
The details
As per the Institute of Health Economics, pursuant to the Food and Drugs Act, the medical devices have a comprehensive definition that comprises any item sold to treat, mitigate, diagnose or prevent a disorder, abnormal physical state or disease, or any of their indications.
MyDx offerings will be used to monitor crowdsourced herbal drug by their clients to cure different ailments as well as track and monitor consumption habits, a feature showcased by both the CannaDx Handheld Tester and the ECOSmartPen, to promote accountability and public safety. It’s convenient to see how MyDx offerings can fit within the limits of that description and the firm is assured in its ability to get approval. Still, there exists no assurance that it will be granted or gain such certifications.
Recently, Loblaws, a leading Canadian supermarket chain, issued coverage for medicinal marijuana to its around 45,000 employees under guidelines managed by Great-West Life and Manulife. With a medicinal device classification, medical customers would be able to get reimbursement from their respective insurance providers for their company devices, considerably reducing the overall cost to patients.
In the last trading session, the stock price of MyDx jumped more than 10% to close the day at $0.0062. The gains came at a share volume of 21.17 million compared to average share volume of 9.74 million. Post the last gains, the market cap of firm was noted at $11.2 million. The stock has gained more than 138% so far in this year.
December 27, 2017; MMJReporter, By Brandon Manns
http://mmjreporter.com/mydx-inc-otcmktsmydx-s...3616.htmlv
MyDx Inc (OTCMKTS:MYDX) reported that it has submitted an application and is looking for medical device status in Canada for its products known as CannaDx Handheld Tester as well as for ECOSmartPen so as to make its products increasingly accessible to medical users seeking to manage and track their consumption habits and stop abuse.
The details
As per the Institute of Health Economics, pursuant to the Food and Drugs Act, the medical devices have a comprehensive definition that comprises any item sold to treat, mitigate, diagnose or prevent a disorder, abnormal physical state or disease, or any of their indications.
MyDx offerings will be used to monitor crowdsourced herbal drug by their clients to cure different ailments as well as track and monitor consumption habits, a feature showcased by both the CannaDx Handheld Tester and the ECOSmartPen, to promote accountability and public safety. It’s convenient to see how MyDx offerings can fit within the limits of that description and the firm is assured in its ability to get approval. Still, there exists no assurance that it will be granted or gain such certifications.
Recently, Loblaws, a leading Canadian supermarket chain, issued coverage for medicinal marijuana to its around 45,000 employees under guidelines managed by Great-West Life and Manulife. With a medicinal device classification, medical customers would be able to get reimbursement from their respective insurance providers for their company devices, considerably reducing the overall cost to patients.
In the last trading session, the stock price of MyDx jumped more than 10% to close the day at $0.0062. The gains came at a share volume of 21.17 million compared to average share volume of 9.74 million. Post the last gains, the market cap of firm was noted at $11.2 million. The stock has gained more than 138% so far in this year.
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