Australia's Cleo Diagnostics jumps as ovarian cancer test hits validation milestone

CLEO Diagnostics

03/09/2026 04:23

** Shares of Cleo Diagnostics COV.AX surge 10% to A$0.385 by noon in Sydney, putting the stock on track for its strongest one-day gain in more than five months
** Cancer diagnostics provider says analytical validation of its pre-surgical ovarian cancer test will begin after receiving the first commercial test-kit production batch manufactured by U.S. based Bio-Techne TECH.O 
** Adds, initial batch of 125 test kits is set to undergo internal quality checks and documentation ahead of analytical validation, with the process expected to conclude within one to two weeks
** Analytical validation is intended to confirm the assay’s accuracy and reproducibility, forming a key regulatory milestone underpinning the co's planned FDA 510(k) submission in H1 CY27
** YTD, stock down 36.4%

     

 (Reporting by Paridhi Minda in Bengaluru)
 ((Paridhi.minda@thomsonreuters.com;))