Australia's Rhinomed slumps after flagging delay in Canada COVID test launch

Rhinomed

27/01/2023 04:10

** Shares of Rhinomed  RNO.AX  fall as much as 4.8% to
A$0.100 - set to mark worst day since Dec 20, if losses hold 
    ** Medical device maker says Canada-based BTNX Inc informed
co regarding a delay in market launch of its COVID test
Rhinoswab Junior 
    ** BTNX cites request from Canadian health regulator for
more clinical data - RNO
    ** Both parties entered into agreement in April 2022 to
supply RNO's rapid antigen tests in Canada 
    ** RNO says deferral of shipments may impact revenue from
Rhinoswab business in FY23, adds may not receive revenue until
FY24
    ** Stock hits lowest level since Dec 23 
    ** Stock fell 62.7% in 2022
 (Reporting by Archishma Iyer)
 ((Archishma.Iyer@thomsonreuters.com;))