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Microbix Biosystms ( (TSE:MBX) ) just unveiled an update.
Microbix Biosystems Inc. announced it is addressing a cybersecurity incident involving a ransomware attack that resulted in data theft but did not impact operations. The company has been enhancing its cybersecurity measures since 2022, including adopting Center for Internet Security frameworks, conducting regular employee training, and implementing real-time threat monitoring. Microbix’s policy is to not pay ransoms, aiming to discourage cybercrime. The incident underscores the importance of robust cybersecurity in the life sciences industry, and Microbix continues to improve its IT security to adapt to increasing cyber threats.
The most recent analyst rating on (TSE:MBX) stock is a Hold with a C$0.50 price target. To see the full list of analyst forecasts on Microbix Biosystms stock, see the TSE:MBX Stock Forecast page.
Spark’s Take on TSE:MBX Stock
According to Spark, TipRanks’ AI Analyst, TSE:MBX is a Neutral.
Microbix Biosystems’ overall stock score is primarily influenced by its strong financial performance and stability, despite recent revenue challenges. Technical indicators suggest bearish momentum, and valuation metrics are weak due to a negative P/E ratio. The earnings call reflects both immediate challenges and potential for future growth, balancing the overall outlook.
To see Spark’s full report on TSE:MBX stock, click here.
More about Microbix Biosystms
Microbix Biosystems Inc. is a life sciences company based in Mississauga, Ontario, Canada, specializing in the creation of proprietary biological products for human health. The company employs over 120 skilled workers and generates revenues targeting C$ 2.0 million or more per month. Microbix produces and exports critical ingredients and devices for the global diagnostics industry, including antigens for immunoassays and laboratory quality assessment products (QAPs™) and reference materials (QUANTDx™). These products support point-of-care testing (POCT) and clinical lab external quality assessment (EQA), enabling assay development and validation, and ensuring the quality of clinical diagnostic workflows. Microbix’s products are available in over 30 countries, supported by a network of international distributors. The company is ISO 9001 & 13485 accredited, U.S. FDA registered, Australian TGA registered, and Health Canada establishment licensed, providing IVDR-compliant CE marked products. Additionally, Microbix develops other proprietary products and technologies, such as Kinlytic® urokinase, a biologic thrombolytic drug, and reagents or media for molecular diagnostic testing.
Average Trading Volume: 100,633
Technical Sentiment Signal: Sell
Current Market Cap: C$35.58M
For detailed information about MBX stock, go to TipRanks’ Stock Analysis page.