United Health Products Faces FDA Hurdle While Advancing Market Visibility
TL;DR
UHP's uplisting to OTCQB market enhances visibility and liquidity, attracting more investors for potential gains.
UHP's common shares move from OTC 'Pink' to OTCQB to improve transparency, liquidity, and investor reach.
UHP's Hemostatic Gauze approval aims to control bleeding, advancing medical technology for better surgical outcomes.
FDA's regulatory update affects UHP's clinical study progress, highlighting ongoing efforts for innovative medical solutions.
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United Health Products (OTCQB: UEEC) has successfully uplisted to the OTCQB Venture Market, a significant milestone that could enhance the company's investor visibility and stock liquidity. The move comes as the medical technology firm continues to pursue FDA approval for its CelluSTAT Hemostatic Gauze.
The company recently received a setback when the FDA declined to approve its Investigational Device Exemption (IDE) application for a follow-on clinical study. Notably, the FDA did not identify deficiencies in the study design but referenced findings from Bioresearch Monitoring audits of UHP's 2019 clinical study.
CEO Brian Thom emphasized the uplisting as reflecting the company's commitment to transparency and investor relations. UHP is currently scheduling a teleconference with FDA representatives to resolve outstanding issues and potentially move forward with its clinical study.
The OTCQB platform, designed for developing companies, requires current SEC financial reporting and annual verification, potentially providing UHP with increased credibility in the medical technology sector. However, the company acknowledges that FDA Premarket Approval is not guaranteed.
UHP's CelluSTAT Hemostatic Gauze, an all-natural product designed to control mild to moderate bleeding, remains the company's primary focus as it seeks entry into the human surgical market. The ongoing regulatory process and market positioning will be critical to the company's future success.
Curated from NewMediaWire
