Neogen Shares Down on Release of Allergen Test

Neogen® Corporation (NASDAQ: NEOG) shares lost in value at Wednesday’s open, on announced on announcing the release of an enhanced version of the Veratox® for Peanut allergen test, which optimizes sensitivity and flexibility across sample types while maintaining the rapid time-to-result and simple testing procedure standards set by the Veratox product line.

Neogen's new Veratox VIP (Veratox Improvement Platform) for Peanut assay is able to rapidly quantify low levels of peanut protein residues in food products, ingredients, and clean-in-place rinses.

"As the demand for plant-based foods continues to increase, we have seen peanut proteins being processed in more new and creative ways than ever before. However, peanut remains one of the highest-priority allergens in the food industry," said CEO John Adent.

"It was very important that we offer a solution that gives producers confidence as they navigate this changing landscape. The new Veratox VIP for Peanut assay is very sensitive and able to detect low levels of peanut protein while remaining fast and easy to use."

This innovative quantitative test utilizes the pairing of a unique antibody combination and a modified extraction process to robustly detect levels of peanut protein down to 0.25 ppm. This product has been validated in a wide variety of product types, including both minimally and further-processed products. This flexibility makes the assay appropriate across different food manufacturing and laboratory environments.

NEOG shares fell 33 cents, or 1.2%, to $26.56.