Australia's Archer Materials jumps on bio-chip development progress

Archer Materials

01/12/2021 04:43

** Shares of the semiconductor chip maker  AXE.AX  rise as
much as 11% to A$1.36, on track for their biggest single-day pct
gain since Oct. 14
    ** Co says it has successfully developed its first
biochemical reactions for the detection of nucleic acid
sequences for potential application at room-temprature
 urn:newsml:reuters.com:*:nASX3lV6kQ
    ** AXE says viral, bacterial, or other microbial-origin
nucleic acid sequences would allow for the development of co's
'lab-on-a-chip' technology towards pathogen detection 
    ** Adds that progress in developing co's bio-chip technology
could eliminate cold-logistics supply chain requirements and the
need for polymerase chain reaction testing
    ** Shares hit their highest since Nov. 25 
    ** More than 2.2 mln shares change hands, compared with the
30-day average volume of ~1.1 mln shares 
    ** Stock up 135.6% this year, as of last close

 (Reporting by Roushni Nair in Bangalore.)
 ((Roushni.Nair@thomsonreuters.com))