BioCorRx Q2 2024 Business Update

BioCorRx Inc., a company based in Anaheim, CA, and known for its innovative treatment programs for substance abuse and related disorders, has disclosed a business update for the three months ending June 30, 2024. The company has made notable advancements in its corporate developments, including expanding its intellectual property portfolio.

A significant milestone for BioCorRx was the granting of an international patent from Israel for a treatment targeting weight loss. This patent encompasses the use of a subcutaneous implant containing naltrexone, which aids weight loss when coupled with behavioral and nutritional counseling. This aligns with the company's broader objective of addressing global medical needs related to obesity.

CEO, CFO, and Director Lourdes Felix highlighted the progress made in the second quarter of 2024. She noted the acquisition of a new patent from the United States Patent and Trademark Office (USPTO) for a novel compound aimed at alleviating withdrawal symptoms for opioid use disorder (OUD). Felix emphasized that this innovation could present a new method for managing OUD, potentially offering advantages over existing treatments. Additionally, the company received another patent from Israel for a naltrexone implant designed to assist with weight loss, further strengthening their IP portfolio and supporting their goals in combating global obesity.

In February 2024, BioCorRx Pharmaceuticals secured a three-year grant worth approximately $11 million from the National Institute on Drug Abuse (NIDA), part of the National Institutes of Health (NIH). This funding is allocated for the development of BICX104, a long-duration, subcutaneous naltrexone implantable pellet aimed at treating methamphetamine use disorder (MUD). MUD presents a significant public health issue, affecting numerous individuals and communities nationwide, with no current approved medications specifically for this condition. The grant will accelerate research efforts to develop BICX104 as a potential treatment option.

BioCorRx remains hopeful about their business trajectory and is enthusiastic about the ongoing advancements in their development programs. The company continues to focus on executing strategic priorities to generate significant value for shareholders, with plans to share further operational and regulatory updates in the near future.

The company's quarterly report for the second quarter ended June 30, 2024, is available on the Securities and Exchange Commission’s website and BioCorRx’s website.

BICX104, a biodegradable, long-acting subcutaneous pellet of naltrexone, is under development for the treatment of OUD. The goal is to enhance patient adherence to naltrexone therapy compared to other treatments on the market. In Phase I of the clinical trial, BICX104 was well tolerated with no serious adverse events, maintaining therapeutic naltrexone plasma concentrations for 84 days. BioCorRx Pharmaceuticals Inc., a majority-owned subsidiary of BioCorRx Inc., is leading this development. The study details can be found on clinicaltrials.gov.

BICX104's development is supported by a cooperative agreement with NIDA, under the NIH HEAL Initiative, which aims to expedite scientific solutions to address the national opioid public health crisis.

Methamphetamine use disorder (MUD) involves the misuse of a highly addictive stimulant, leading to severe health issues such as dental problems, memory loss, aggression, psychotic behavior, and cardiovascular damage. Over 16.6 million people have used methamphetamine at least once in their lifetime.

Opioid Use Disorder (OUD) is a chronic condition with severe consequences, including disability, relapse, and death. It involves the misuse of opioids, which have analgesic and depressant effects, leading to euphoria and a strong desire to use the drug despite negative outcomes. OUD is typically a chronic, relapsing illness with high rates of morbidity and mortality.

Obesity is a major global health concern, with over 1 billion people affected worldwide. The World Health Organization reported that one in eight people live with obesity, and the crisis could escalate to over 4 billion people by 2035, significantly increasing healthcare costs due to obesity-related conditions like stroke, heart disease, cancer, and type 2 diabetes.

BioCorRx Inc. specializes in addiction treatment solutions, offering unique programs for substance use and related disorders. Their Beat Addiction Recovery program combines proprietary Cognitive Behavioral Therapy (CBT) modules with peer support and prescribed medication. The UnCraveRx® Weight Loss Program integrates medication-assisted weight loss with support from wellness specialists. BioCorRx Pharmaceuticals Inc. is also working on FDA approval for BICX104, aimed at treating alcohol and opioid use disorders.