Australia's Rhinomed soars to 6-yr high on nasal swab deal with Victorian government

Rhinomed

10/09/2021 02:30

** Shares of Rhinomed Ltd  RNO.AX  soar as much as 29.33% to
A$0.485, their highest since Aug. 21, 2015
    ** Nasal tech co says https://www.rhinomed.global/wp-content/uploads/2021/09/VIC-Government-orders-for-Rhinoswab-1.pdf
 received 1 mln initial purchase orders for Rhinoswabs from the
Victorian Department of Health
    ** Rhinoswab is a nasal swab used in the testing of COVID-19
    ** RNO says revenue of A$3.9 mln ($2.87 mln) associated with
the order, representing about 35%-45% of unaudited FY21 revenues
    ** Additionally, NSW Health Pathology has also placed orders
for 1 mln Rhinoswabs from RNO 
    ** Rhinoswab can enable more people to be tested quickly and
easily for SARS-CoV-2 - CEO
    ** Stock sees best day since Aug. 27, up 134.4% pct this
year, as of Thursday's close
    ** 2.6 mln shares change hands, twice the 30-day avg volume
of 1.4 mln
    

($1 = 1.3576 Australian dollars)

 (Reporting by Aneetta Thomas in Bengaluru)
 ((Aneetta.Thomas@thomsonreuters.com;))