LBT Innovations soars on U.S. FDA nod for tech for drug-resistant infections

Clever Culture Systems

29/10/2021 04:51

** Shares of Australian medtech co LBT Innovations Ltd
 LBT.AX  rise as much as 20% to $0.120, their biggest one-day
pct rise since Aug. 20
    ** Co says the U.S. Food and Drug Administration (FDA)
cleared its culture plate reading technology for sale in the
United States [https://bit.ly/2ZwMrB7
]
    ** The technology, called APAS Independence along with an
MRSA analysis module will be used as a medical device in cases
of drug-resistant infections
    ** Stock hits highest since Oct. 20
    ** About 1.1 mln shares change hands, over double the 30-day
avg volume of 450,529
    ** Stock has fallen 18.4% this year as of last close

 (Reporting by Yamini C S)
 ((Yamini.CS@thomsonreuters.com;))