Virax Biolabs stock (NASDAQ:VRAX) more than doubled so far in today’s trading session. At the time of writing, the stock is up 112%. This can be attributed to an announcement that the company has entered into an agreement to distribute its real-time PCR test kit for Avian Influenza A Virus (AIV) to the European Union. More specifically, it’ll be the markets that accept the CE mark.
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The tests are aimed at the H5, H7, and H9 AIV subtypes and will help detect and differentiate between the viruses. This will definitely be helpful in Europe at the moment as the H5N1 strain is spreading across the continent.
The past six months have not been kind to VRAX investors, as the stock has lost a considerable amount of value over this time. Nevertheless, today’s news has helped ease at least some of the pain, with prices now back to levels last seen near the end of November 2022.
