AnPac Bio (NASDAQ: ANPC) soars more than 100% in premarket after the announcement that the company is validating the COVID-19 antibody test via permission of the FDA to use its California lab.
Testing only the virus has been widespread through many biotech companies but the antibody test may speed up the process of treating the patients. Adding this product could increase the company’s revenue in Q3 of 2020 by possibly getting long term investors.
From $5.49 to $11.17 sudden jump before the open market could lead to rocketing daily volume while on average ANPC trades 13,214 shares. If the validation completes successfully its shares will surely blast off.
Finance and Tech Contributor