Virax Biolabs Stock Surges 43% on Distribution Agreement

Tiger Newspress08-28

Virax Biolabs announced that it has entered into a distribution agreement with a supplier of (RT) PCR Mpox virus detection kits to commercialize them in 13 European countries as well as members of the Gulf Cooperation Council including Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates.

The RT PCR Mpox virus detection kits are CE-marked for sale in Europe and also authorized by the Medicines and Healthcare products Regulatory Agency (MHRA), the product regulatory agency for the United Kingdom. These tests perform with a sensitivity of 96.7% and specificity of 93.72%, with the ability to deliver results in under 70 minutes.

Virax Biolabs shares surged 42.5% in morning trading.

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