- Shares in Sona Nanotech (SONA) have soared more than 83 per cent today after the company received CE Mark approval for its COVID-19 antigen test
- The approval declares conformity of the test with E.U. regulations and allows the company to sell it throughout Europe
- Sona Nanotech said it will initially sell the test as a screening tool for organisation that need to screen people in high-risk, populous environments
- The tests will be produced by the company’s contract manufacturer in the United Kingdom
- Sona Nanotech is currently up 83.13 per cent to C$2.93 per share
Shares in Sona Nanotech (SONA) have soared more than 83 per cent today after its COVID-19 antigen test received a CE Mark approval.
The approval declares conformity of the test with E.U. regulations and allows the company to sell it throughout Europe and potentially to other territories or regions in which the CE Mark is recognised.
As such, Sona Nanotech said it will begin selling the test as a screening tool for organisations looking to screen people in high-risk, populous environments.
However, the company warned that “all results should be assessed in the context of the local prevalence of the virus and considered ‘presumed’ positive or negative until confirmed by a physician.”
Earlier in December, Sona Nanotech appointed Obelis SA – a regulatory and compliance consulting service provider – to assist in compiling the necessary technical documentation in order to meet the CE Mark requirements.
With the approval now in place, the company is able to take firm orders for the test and make corresponding production commitments from its contract manufacturer in the United Kingdom.
Sona Nanotech is also in the process of transferring its technology to a second manufacturer in North America, and is expected to provide quarterly updates on its sales figures.
Using a pregnancy-type lateral flow test that eliminates the need for laboratory equipment or specially-trained health professionals, the company’s rapid COVID-19 antigen test is capable of producing results in as little as 15 minutes.
Sona Nanotech is currently up 83.13 per cent to C$2.93 per share at 10:10am EST.
