SINTX Technologies (NASDAQ:SINT) released results regarding a potential treatment for the novel coronavirus over the weekend, and the news has SINT stock soaring on Monday.
The company, which is focused on silicon nitride and its real-life applications, announced that Covid-19 was “inactivated” when its sintered silicon nitride powder came in contact with the virus in a controlled lab study. Additionally, the release also states that the original equipment manufacturer (OEM) ceramics company expects to have more data to share “once the findings are published in a rapid-review forum.”
Dr. Sonny Bal, CEO of SINTX, had this to say about the SINTX Technologies news:
“The preliminary results are encouraging. The antiviral data are consistent with the well-established anti-bacterial properties of SINTX’s silicon nitride, and with previously reported effectiveness against several single-strand RNA viruses. Additional testing at independent, outside laboratories is in progress to corroborate the effectiveness of silicon nitride against SARS-CoV-2.”
Moreover, the results make SINTX Technologies another member in the fight against the coronavirus. And with this positive news, SINT stock is on the move.
This news has caused a massive jump in both volume and stock price since Friday. In fact, more than 95 million shares have traded hands thus far on Monday. And overall, SINT stock is up more than 180%.
Nick Clarkson is a web editor at InvestorPlace. As of this writing, he did not hold a position in any of the aforementioned securities.