Thinly traded nano cap Aytu BioScience (NASDAQ:AYTU) jumps 322% premarket on robust volume in reaction to its license agreement
with L.B. Resources Limited for the exclusive distribution of a
point-of-care rapid test for COVID-19 IgG/IgM antibodies in the U.S. for
three years with three-year auto-renewals thereafter.
Aytu plans to discuss a regulatory pathway with
the FDA and near-term availability under Emergency Use Authorization. It
expects to receive an initial supply of product in three-to-four weeks.
Financial terms are not disclosed.
Results from the CE Mark’d immunochromatographic
assay can be generated in 2-10 minutes from serum/plasma/whole blood
samples. No equipment is needed. In this case, it detects the presence
of IgG antibodies (indicating past exposure to the SARS-CoV-2 virus) and
IgM antibodies (indicating recent exposure to the virus). The test does
not differentiate between the two (just confirms exposure).
An immunochromatography assay,
or lateral flow test, combines chromatography and immunochemical
reactions. The most common of this type of system is the test strip
which generates results as a colored band on a membrane (visual
interpretation).
https://seekingalpha.com/news/3550105-aytu-bio-rockets-322-premarket-on-distribution-deal-for-covidminus-19-test
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