[Featured Stock] Access Bio Surges on Subsidiary's Export Approval for COVID-19 Test Kits
[Asia Economy Reporter Koh Hyung-kwang] Access Bio's stock surged sharply in early trading following news that its subsidiary Wells Bio received export approval for its COVID-19 diagnostic kit.
As of 9:20 a.m. on the 19th, Access Bio was trading at 4,115 KRW, up 13.0% from the previous trading day. The stock has risen for four consecutive trading days, gaining more than 40% during this period.
The surge is attributed to the export approval news of the COVID-19 diagnostic kit from its subsidiary. Access Bio announced that Wells Bio received export approval from the Ministry of Food and Drug Safety (MFDS) for the COVID-19 diagnostic kit 'careGENE™ N-CoV RT-PCR Kit' on the same day.
Meanwhile, Wells Bio was selected as a participating company in an urgent national project in February and is carrying out the project titled 'Development and Commercialization of Immunodiagnostic Kit for COVID-19 Antigen Protein Detection.'
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They plan to develop a highly sensitive immunodiagnostic kit for coronavirus-19 antigens by utilizing the platform applied to Access Bio's influenza antigen diagnostic kit (FDA approved).
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