Trinity Biotech rises after raising sales forecast for HIV test

Trinity Biotech

27/08/2024 12:33

** U.S.-listed shares of biotech co Trinity Biotech  TRIB.O 
rise 74.4% to $3.54 premarket 
    ** Co late on Monday said it will raise its 2024 sales
forecast for its HIV test, TrinScreen HIV, to about $10 mln from
$8 mln previously 
    ** Co said the raise in forecast is due to increased orders
and scaling of production capacity for the test 
    ** Co also said it has increased its manufacturing capacity
for its FDA-cleared viral transport medium, FlexTrans, in
anticipation of potential increased customer demand as WHO
declared mpox a global public health emergency
    ** FlexTrans is used to stabilize viruses and suppress
microbial contamination during transport of clinical specimens
from the point of collection to the testing site 
    ** Up to last close, stock was down 5.5% YTD 

 (Reporting by Sneha S K)
 ((Sneha.SK@thomsonreuters.com;))