Australia's Rhinomed eyes best session in over 6 weeks on its nasal swab trial results

Rhinomed

14/12/2020 03:20

** Shares of Rhinomed Ltd  RNO.AX  rise as much as 15.6% to
A$0.185, their biggest intraday pct gain since Oct 28
    ** The medical tech firm says its nasal swab product,
Rhinoswab, achieved a key endpoint in a trial in Melbourne 
 urn:newsml:reuters.com:*:nASX5t8nBx
    ** Co's swab was successful in detecting COVID-19 in
patients in RT-PCR tests with the same accuracy as other
standard commercial swabs on the market
    ** Says is currently reaching out to COVID-19 test
developers and pathology groups to employ Rhinoswab in mass and
high frequency testing
    ** Stock trading at its highest since Nov 26, set for its
second consecutive session of gains
    **  About 384,000 shares have traded so far, compared with
their 30-day average volume of 238,000 shares
    ** As of previous close, stock down 23.81% so far this year

 (Reporting by Savyata Mishra in Bengaluru)
 ((Savyata.mishra@thomsonreuters.com))