ORHub Inc (OTCMKTS:ORHB) Stock Falls As Company Acquires PUR Biologics
ORHub Inc (OTCMKTS:ORHB) on April 25, 2022, announced purchasing 100% of the equity interest as well as assets of PUR Biologics, LLC. The company will foray into the global medical device market, which may reach $445.1 billion by 2026.
Market Stats
On Friday, ORHB stock fell 10.26% to $0.0350 with 277K shares, compared to its average volume of 33K shares. The stock moved within a range of $0.0350 – 0.0398 after opening trading at $0.0390.
ORHub Acquires PUR Biologics, Entering the Global Medical Device Market
Top categories in the USA such as Hip, Knee, & Spine may be about $75 billion. This will enable ORHub to harness PUR’s proprietary technologies for regenerating cartilage, reducing pain as well as addressingbiological causes of degenerative disc disease.
CJ Wiggins – Founder, Executive Chairman, President & CEO for ORHub said that the company aims to provide treatments for age-related joint painand degeneration of cartilage. Wiggins added that the technologies such as PUR’s can ensure fresh ways of addressing underlying cause of inflammation and pain signals. The CEO is excited on the opportunity to advance autologous cell and cellular derived therapeutics for osteoarthritis.
Ryan Fernan, former CEO of PUR Biologics said that PUR Biologics has made innovative technologies. Fernan added that the company had also brought out a complete line of bone regeneration products earlier. The CEO feels that the firm has secured intellectual property to address major gaps in medical treatment. Furthermore, ORHub is the perfect partner, having both the science as well as business structure to take technologies to the global market.
Plans are also being made to update corporate branding as well as ticker symbol.
Key Quote
“We plan to offer improved treatments for age-related joint pain and the degeneration of cartilage in orthopedic indications. Technologies like PUR’s can enable new ways to address the underlying cause of undesired inflammation and pain signals, while igniting our body’s natural healing capabilities,” shared CJ Wiggins – Founder, Executive Chairman, President & CEO for ORHub. “We are excited about this acquisition and the opportunity to advance autologous cell and cellular derived therapeutics for osteoarthritis and degenerative disc disease.”
Traders Corner
ORHB stock is trading above the 20-Day and 50-Day Moving averages of $0.0324 and $0.0342 respectively. Moreover, the stock is trading above the 200-Day moving average of $0.0286.
