Why Are Vivos Therapeutics Shares Surging Today?

Vivos Therapeutics Inc VVOS announced significant increases across several key metrics for its SleepImage Home Sleep Apnea Tests (HST).

• In particular, for the quarter ended December 31, 2021, versus the three months ended December 31, 2020, Vivos reported an 18 times increase in the total number of HSTs given across the network of Vivos trained dentists (known as Vivos Integrated Practices or VIPs).
• The Company also posted a 5.7 times increase in the number of VIPs administering HSTs and a three times increase in the average number of HSTs being administered per VIP.
• The robust performance has allowed Vivos to renegotiate its commercial agreement with SleepImage to lower costs dramatically. 
• Under the new revenue model with SleepImage, Vivos will lease out the SleepImage ring recorders to Vivos-trained dentists at a fixed price that includes a full month's worth of diagnostic sleep test reports.
• "Converting positive OSA tests using our HSTs into Vivos System case starts is a major focus of our Practice Advisors and support personnel at Vivos as we roll into 2022. We also expect that our new pricing arrangement with SleepImage will yield positive financial results for Vivos," said Kirk Huntsman, Chairman, and CEO of Vivos.
• Price Action: VVOS shares are trading 44.5% higher at $2.37 during the market session on the last check Wednesday.