Nutriband (NASDAQ:NTRB) stock is taking off on Tuesday thanks to news that it will be producing Covid-19 antibody check patches.
Let’s take a look at that news below to see what traders need to know about it.
- First off, it’s worth noting that it will be making these indicator patches for Diomics.
- These patches make use of Diomics’ Diocheck technology.
- This has users wearing the patch on the inside of their forearm for 24 hours.
- After that, they check for a reaction from the patch.
- If the person is unvaccinated and gets a positive response, they are advised to consult with their doctors about a possible novel coronavirus infection.
- If they are vaccinated and don’t get a positive response, they should check with their doctor to confirm the efficiency of their vaccine.
- That may mean the person will need another booster shot to increase its effects.
- Wearing the Diocheck Covid-19 indicator patch is similar to a nicotine patch.
- It produces a change of color on the skin if the response is positive.
- The patch is will be effective for up to 14 days.
- Diomics is currently waiting for approval from the U.S. Food and Drug Administration (FDA) for its Diocheck device.
Gareth Sheridan, CEO of Nutriband, said this in the news release boosting NTRB stock today.
‘This exclusive contract with Diomics to manufacture Diocheck™ allows Nutriband and our contract manufacturing subsidiary, Pocono Pharma, to showcase our capabilities with innovative new patch technologies.”
NTRB stock was up 41.5% as of Tuesday morning but is down 29% since the start of the year.
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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