Virax Biolabs gains on distribution agreement for avian flu test kit
07/03/2023 13:12
** Shares of biotech company Virax Biolabs Group Ltd
VRAX.O more than double to $1.43 premarket
** Company says it has entered into an agreement for
distribution of avian influenza A virus (AIV) real-time PCR test
kit
** Agreement to distribute kits to markets which accept CE
mark, namely the European Union - company
** Test kit is used for detection and differentiation of
ribonucleic acid from AIV and its subtypes H5, H7 and H9,
including the H5N1 strain currently spreading in Europe,
according to VRAX
** CE marking indicates that a product has been assessed by
the manufacturer and deemed to meet EU safety, health and
environmental protection requirements
** VRAX shares have lost ~52% in the past three months
(Reporting by Raghav Mahobe)
((Raghav.Mahobe@thomsonreuters.com;))