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Aclarion, Inc. (NASDAQ:ACON) shares are trading higher Monday after the company announced it has executed a strategic partnership agreement solidifying the previously signed Letter of Intent (LOI) with Alphatec Spine, Inc., a subsidiary of Alphatec Holdings, Inc. (NASDAQ:ATEC).
The Details:
The partnership between Aclarion and Alphatec will consist of identifying key opinion leader surgeons to evaluate the Nociscan technology and lead to the co-marketing of Nociscan in targeted markets.
Aclarion shares are racing higher on heavy trading volume following the company's announcement. According to data from Benzinga Pro, more than 15.7 million shares have already been traded in the session, far exceeding the stock's 100-day average volume of less than 174,000 shares.
Aclarion effected a 1-for-16 reverse stock split on Jan. 3, reducing the number of outstanding shares from approximately 13.4 million pre-split shares to approximately 840,000. The stock began trading on a split-adjusted basis at the market open on Jan.4.
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ACON Price Action: According to Benzinga Pro, Aclarion shares are up 64% at $5.02 at the time of publication.
Image: Serhii G. from Pixabay
