With the pandemic still showing no signs of abating, demand for diagnostic testing has only increased. Unfortunately, the nation is still running into severe diagnostic test shortages, which could hamper the nation’s response to the pandemic, and potentially delay the opening of schools and businesses. Demand issues could skyrocket even more when some colleges go back in the Fall. Already, many schools and universities are planning to regularly test students and staff on campuses across the U.S. to help keep everyone safe. With demand only increasing, some of the top companies to watch on such news include XPhyto Therapeutics Corp. (CSE:XPHY)(OTC:XPHYF), Abbott Laboratories (NYSE:ABT), Sorrento Therapeutics Inc. (NASDAQ:SRNE), Quidel Corporation (NASDAQ:QDEL), Co-Diagnostics Inc. (NASDAQ:CODX).
XPhyto Therapeutics Corp. (CSE:XPHY)(OTC:XPHYF) BREAKING NEWS: XPhyto Therapeutics Corp., a next generation bioscience company, is pleased to announce that its common shares are now trading on the OTCQB Venture Market under the stock symbol “XPHYF”. The OTCQB Venture is the premiere marketplace for early stage and developing U.S. and international companies. Participating companies must be current in their reporting and undergo an annual verification and management certification process. Investors can find real-time quote and market information at https://www.otcmarkets.com/stock/XPHYF/overview.
XPhyto is also pleased to announce that its common shares are eligible for electronic settlement and transfer in the United States by The Depository Trust Company.
XPhyto’s common shares will continue to trade on the Canadian Securities Exchange under the symbol “XPHY” as well as the Frankfurt Stock Exchange under the symbol “4XT”.
Other related developments from around the markets include:
Abbott Laboratories (NYSE:ABT) announced financial results for the second quarter ended June 30, 2020. "Our diversified business model has proven to be a true strength during this time," said Robert B. Ford, president and chief executive officer, Abbott. "We're a leader in the global COVID-19 testing efforts, we've continued to advance our pipeline and, importantly, we saw significant improvements in growth trends throughout the quarter in the business areas that were initially most impacted by the pandemic."
Sorrento Therapeutics Inc. (NASDAQ:SRNE) announced it has entered into a licensing agreement with Columbia University for the rights to a rapid, one-step diagnostic test that detects SARS-CoV-2 virus in as little as 30 minutes from a sample of saliva. Unlike other commercially available diagnostic products, the test developed by Columbia's team, to be marketed by Sorrento under the COVI-TRACE name, holds all of the testing materials in a single tube and requires no specialized laboratory equipment, making it easily deployable for point of care, on-site or potentially at-home testing. Current diagnostic tests for SARS-CoV-2 detect viral ribonucleic acid (RNA) but must be shipped to a reference laboratory unless the facility collecting the samples has purchased costly instrumentation, cartridges and consumables to extract viral RNA from the fluid in which the sample — either a nasopharyngeal swab or saliva — is placed. The current backlog in SARS-CoV-2 testing has resulted in average turnaround times of between several days to over a week, and laboratories across the country are reportedly struggling to keep up with increased testing demand.
Quidel Corporation (NASDAQ:QDEL), a provider of rapid diagnostic testing solutions, cellular-based virology assays and molecular diagnostic systems, announced that the State of Maryland has allowed point-of-care testing for COVID-19. The Maryland Department of Health has allowed point-of-care testing for COVID-19, stating: “Any healthcare provider or healthcare facility, subject to certain terms and conditions, may perform COVID-19 point-of-care (POC) test analysis pursuant to Executive Order 20-03-23-02.”1 The order is effective August 10, 2020. Under the new directive, Maryland residents who believe they should be tested can now contact their healthcare provider, who can order a “COVID-19 test for any individual who believes it necessary, regardless of symptoms.”
Co-Diagnostics Inc. (NASDAQ:CODX), a molecular diagnostics company with a unique, patented platform for the development of diagnostic tests, announced today the filing of its operating results for the 3 month period ending June 30, 2020 on SEC Form 10-Q, and provided updates on Company developments. “In the last 4 months since Co-Diagnostics received emergency use authorization from the FDA, the Company has successfully grown our internationally recognized business and brand. With clients in over 50 countries, 25 U.S. states, and validations of test accuracy from regulatory bodies of numerous countries around the world, Co-Diagnostics has established a distribution platform that we believe will continue to support sales and profitability as our tests have gained widespread acceptance in the market. We have created a test menu and established the production capacity to meet demand for tests as the nations of the world continue to battle the pandemic, and believe these efforts will continue to bolster the Company’s durability in the months and years to come,” said Dwight Egan, CEO.
Legal Disclaimer / Except for the historical information presented herein, matters discussed in this article contains forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Winning Media is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release. For making specific investment decisions, readers should seek their own advice. Winning Media is only compensated for its services in the form of cash-based compensation. Pursuant to an agreement Winning Media has been paid three thousand five hundred dollars for advertising and marketing services for XPhyto Therapeutics Corp. by a third party. We own ZERO shares of XPhyto Therapeutics Corp. Please click here for full disclaimer.
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