Santa Ana, CA, United States (4E) – Addiction solutions company BioCorRx Inc. (BICX, http://finance.yahoo.com/q?s=BICX) may see its profits jump from $2.6 million this year to $10.5 million in 2015 and $22.8 million in 2016 as more rehab clinics use its so-called “holy grail of alcohol treatment.”
Goldman Small Cap Research (GSCR)—producer of sponsored and non-sponsored small cap and micro cap stock research reports, articles, daily stock market blogs, and popular investment newsletters–made the forecast last week and based it on the BioCorRx’s share price rising from $0.12 to $0.40 and 30 clinics using its Start Fresh Program in the next 2-½ years.
With its success rate in treating alcoholism and other substance abuse addictions, Start Fresh Program, could become the go-to addiction treatment program of choice, according to GSCR.
“The Company’s business model should result in major operating profits beginning next year as meaningful market penetration occurs,” said GSCR researcher Rob Goldman. “Revenue is generated via program sales on a per-patient basis and BICX benefits from clinics’ advertising and marketing campaigns.”
Start Fresh Program has treated more than 300 patients, including television series Growing Pains star Jeremy Miller, since the Santa Ana, California company was formed in 2010. The program uses implants that timely releases Naltrexone, an FDA-approved drug that curbs cravings for alcohol and opiates, from six months to a year. Complementing the implant is a Life Coaching Program, a series of talk therapy sessions that help patients live free of abuse.
Naltrexone, approved in 1994 for treating alcohol dependence after randomized, controlled studies showed its effectiveness, is typically prescribed in pill form but problematic in that alcoholics and drug users tend toward non-compliance. However, in Start Fresh Program, the Naltrexone is in the form of a marble-sized pellet that is implanted in the subcutaneous fat of the patient’s lower abdomen by a licensed physician in an outpatient procedure. The pellet dissolves over time.
After implantation, the use of any substance, whether alcohol, morphine, codeine, hydrocodone or even heroin, will not trigger dopamine receptors in the brain and euphoric effects are eliminated. By removing a drug’s positive feelings in the brain, the user will stop taking the drug. Implants also have the benefit of far less frequent dosage requirements, reduced rates of withdrawal and diminished relapse between doses.
The Naltrexone time-released implant is owned by Trinity Rx Solutions LLC, and exclusively licensed to BioCorRx, a relationship that has existed since 2010.
Once Naltrexone is implanted, patients can return to work the next business day. A life coach contacts the patient almost immediately to schedule private talk therapy with dedicated attention for up to one year, depending on the patient’s schedule.
BioCorRx describes Life Coaching as personalized and private, thus reducing the stress patients may feel when traveling along their journey to recovery. Life Coaching also differs from other talk therapy programs in that individual attention and a plan for a future drug-free life is given to the patient. Other therapies involve group sessions, where expression of emotions may be inhibited and progress of treatment delayed.
BioCorRx has licensed the Start Fresh Program to clinics in California, Arizona, Connecticut, Nebraska, Georgia, North Carolina, Maryland, Washington, D.C., Virginia, West Virginia, Ohio, Minnesota, Oklahoma, Missouri, Ohio and Nevada.
Treatment of both alcohol and opioid addiction is an enormous market in the U.S., where upwards of $23 billion is spent per annum. More than half of Americans have one or more close relatives with alcohol dependency, and nearly 7 million children under the age of 18 live with a parent that struggles with alcohol.