Xiaobai Mumbai Inc. (HX) stock prices were up by 31.11% as of the market closing on October 16th, 2021. This brought the price per share up to USD$5.90. Subsequent pre-market fluctuations have seen the stock surge by 24.92%, bringing it up to USD$7.37.
Entry into Oncology Market
September 28th, 2021 saw HX stock announce its intention to enter the radiation oncology services market in the United States. The social e-commerce platform that is based in China recently established We Health Ltd. We Health is a subsidiary based in New York with the aim of accessing the expansive cancer therapy and radiation oncology business in the United States. The company’s Board of Directors has facilitated this development with the appointment of Ms. Yilin Wang as Co-Chief Executive Officer. Ms. Wang brings her extensive experience to the table, with which the company hopes to reach new heights. This experience ranged from medical health and health management to medical technology-related businesses.
Scope of Cancer Market
Cancer continues to be a front-running cause of deaths around the world, with the World Health Organization Global Cancer Observatory reporting nearly 18 million cancer cases all over the globe in the 2018 year alone. The number of new cancer cases that are diagnosed every year is expected to increase to roughly 25 million by 2030 year. Radiotherapy is one of the most common treatments for cancer, having been adopted widely and indicated steady growth over the years. As per the World Health Organization, more than 50% of cancer patients require radiotherapy as an integral part of their cancer care. Radiotherapy is often used to treat the most common types of cancers, signaling its massive scope.
HX Stock Builds on Success
HX stock has conducted the appropriate market research and has come to the conclusion that there are extensive opportunities for radiation oncology centers along the East Coast of the U.S to address the needs of patients. The catering for patients spans several ethnicities as a result of the company’s healthcare experience and language expertise.
Future Outlook for HX Stock
HX is poised to capitalize on the massive scope of opportunities afforded to it as a result of its foray into the oncology market space. The company is keen to establish and expand its market footprint in a bid to usher in unprecedented growth. Current and potential investors are hopeful that management will be able to effectively leverage the resources at their disposal. This is hoped to facilitate significant and sustained increases in shareholder value over the long term.