AnPac Bio-Medical more than doubles on nearing COVID-19 test validation

Fresh2

07/08/2020 13:34

** Shares of China-based cancer test maker  ANPC.O  rise
101.6% to $11.07 in premarket trade
    ** Co says it has been validating its COVID-19 antibody test
for commercial use at its California lab and expects the process
to be completed by second half of 2020  urn:newsml:reuters.com:*:nGNXc11GHd
    ** The test has alread received emergency use authorization
from the U.S. FDA
    ** Validation studies are run to check test kit's diagnostic
accuracy, sensitivity, and specificity
    ** Co in May received new U.S. patent for a novel medical
device for cancer detection utilizing integrated circuit
technology  urn:newsml:reuters.com:*:nL4N2CT3W7
    ** Only 1 brokerage covers the stock, with a "buy" rating
and PT of $18 - Refinitiv data
    ** Stock is down 51% since Jan. 30 IPO

 (Reporting by Minalika Roy in Bengaluru)
 ((mrinalika.roy@thomsonreuters.com; within U.S. +1 646 223
8780, outside U.S. +91 806749 8325;))