Movano Inc. (MOVE) announced on Monday that its EvieMED Ring's pulse oximeter has been granted 510(k) clearance by the U.S. Food and Drug Administration. This approval signifies that the device meets the necessary regulatory standards for its intended use.
The EvieMED Ring is designed to monitor various health metrics, including blood oxygen levels, heart rate, sleep activity, temperature variability, calories burned, and respiration rate.
With this FDA clearance, Movano Inc. is now positioned to expand its presence in the health monitoring sector, providing solutions tailored for applications such as clinical trials, post-clinical trial management, and remote patient monitoring for healthcare providers and insurers.
As of now, Movano's stock is trading at $5.51 on the Nasdaq, reflecting a decline of 2.36 percent.
