Market News

Virax Biolabs (NASDAQ: VRAX) Soars After Monkeypox Detection Kit Deal

Shares of Virax Biolabs (NASDAQ: VRAX) soared in pre-market trading on Thursday as the diagnostics company inked a distribution agreement with Cosmos Holdings (COSM) to market its Monkeypox Virus Real-Time PCR Detection Kit.

As a part of this agreement, Cosmos will have exclusive distribution rights for countries like Greece and Cyprus, and will also have the opportunity to distribute these test kits across Europe on a non-exclusive basis.

James Foster, Virax’s Chairman, and CEO commented, “These real-time PCR Monkeypox tests facilitate the rapid diagnosis, treatment, and containment of a very significant viral infection, so we are very excited to work with Cosmos to help provide access to it in Europe. We are working diligently to sign additional regional partnerships across the globe as approximately 104 countries have reported cases of Monkeypox.”

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