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Net Medical (OTC Pink: NMXS) announced compliance with new FDA rules enabling free COVID treatments via pharmacy prescriptions in its Test-to-Treat program. Patients diagnosed through this program can now receive Paxlovid, an antiviral treatment, directly from pharmacists, a significant shift from previous regulations that required licensed medical professionals to prescribe it.
The change acknowledges pharmacists' vital role in combating COVID-19 and enhances treatment accessibility, especially in rural areas of New Mexico and Arizona, where testing services are limited.
Net Medical (OTC PINK:NMXS) has announced a strategic partnership with Accorto Regulatory Solutions aimed at expanding its FDA Clinical Trials program. This collaboration focuses on assisting small to mid-sized companies in navigating the regulatory processes necessary for Emergency Use Authorizations and 510k clearances. The partnership will enhance Net Medical's capabilities, particularly in clinical and human factor services, as it transitions from EUA to 510k clearances. The partnership aims to support clients with both English and Spanish trial results.
Net Medical (OTC Pink:NMXS) announced an expansion of its mobile testing lab fleet due to a rise in COVID-19 positive tests. The company is upgrading five high-top vans with advanced medical equipment to enhance onsite testing capabilities. Additionally, the Test-to-Treat program will be augmented with daily telemedicine consultations, facilitating quicker test results. This initiative aims to support local shelters by providing immediate testing and treatment, addressing increasing Long COVID cases as noted by health officials.
Net Medical (OTC Pink:NMXS) has partnered with Smith Associates to enhance clinical trial development, focusing on identifying flu, common colds, and COVID. This collaboration follows FDA guidelines and aims to assist manufacturers in obtaining Emergency Use Authorizations and 510k clearances for their tests. With over 100 years of regulatory experience, Smith Associates will streamline the FDA approval process. CEO Dick Govatski expressed optimism about this partnership, indicating it as a key growth area for Net Medical.
Net Medical Xpress (OTC PINK:NMXS) has expanded its COVID-19 testing program in response to rising case numbers. The Test-to-Treat initiative now operates in Arizona, while the program is fully functional in New Mexico. This program utilizes the company's proprietary Telemed platform, providing direct-to-consumer physician services, especially vital in rural areas. Patients benefit from convenient access to antiviral medications via Walgreen's delivery system, with consultations lasting under 10 minutes. The company aims to broaden its services based on ongoing developments.
Net Medical Xpress (OTC PINK:NMXS) announced plans to launch an innovative testing service aimed at assisting orthopedic surgeons in managing joint infections. Partnering with bioMérieux, the new Joint Infection Panel will enable rapid diagnosis through analysis of synovial fluid samples, offering results in approximately one hour. This service, anticipated to launch in July 2022, addresses the urgent need for effective joint infection diagnostics as the demand for joint replacements rises globally. The testing will identify 31 pathogens and several antimicrobial resistance genes.
Net Medical Xpress (OTC Pink: NMXS) corrected its financial results for Q1 2022, reporting an audited net income of $744,000, up from a prior unaudited income of $577,152. Revenue remained unchanged at $1,907,000. The company operates two units: Net Medical Labs, focusing on virus testing, and Net Medical Xpress, which provides telemedicine solutions.
Net Medical Xpress (OTC PINK:NMXS) reported a successful first fiscal quarter for 2022, achieving total revenue of $1,906,851, a significant increase from $290,000 in Q1 2021. The company also posted a net income of $577,152, reversing a loss of ($29,000) from the previous year. CEO Dick Govatski attributed these results to strategic investments in testing labs and new growth opportunities, including participation in the federal government's Test-to-Treat program and the launch of an international clinical trial program.
Net Medical (OTC PINK:NMXS) has achieved full accreditation from the Better Business Bureau with an A+ rating, a significant endorsement of its operational standards in the medical field. CEO Dick Govatski expressed pride in this accolade, emphasizing its importance for customer trust. The accreditation highlights the company's commitment to honesty and integrity, ensuring clients engage with a vetted entity. Net Medical operates in telemedicine, focusing on various specialties, and also manages a CLIA-certified laboratory for virus testing and diagnostics.
Net Medical (OTC PINK:NMXS) is enhancing its clinical trial programs, hiring a new director for its variant detection initiatives. This move comes ahead of anticipated FDA compliance updates for Rapid Antigen and PCR Molecular tests under Emergency Use Authorization (EUA). President Rafael Rubio stated that the company is preparing to meet these new requirements, including testing against prevalent Omicron variants. Net Medical's initiatives will support regulatory submissions, improving their testing capabilities amid changing regulations.
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