RE:Medmira top Canadian biotech stock of 2020 1. MedMira (TSXV:MIR)
Market cap: C$154.72 million; current share price: C$0.23; yearly gain: 840 percent
Biotech company MedMira is responsible for the development of its Rapid Vertical Flow (RVF) Technology. Rapid-test applications built on RVF Technology provide hospitals, labs, clinics and patients with instant diagnoses for diseases including HIV and hepatitis C.
On the final day of 2020, the top Canadian biotech stock completed validation studies for its REVEALCOVID-19 PLUS total antibody test for the detection of total antibodies against both the nucleocapsid and spike regions of SARS-CoV-2. The test has also undergone a cross-reactivity study using 50 HIV positive specimens, with results showing a specificity of 100 percent.
“The beauty of MedMira’s RVF Technology is the ability to pivot toward the current needs,” said Hermes Chan, CEO of MedMira. “As the stage of the pandemic shifts to vaccination, it is imperative that MedMira can adjust. As a result, and in consultation with our partners, MedMira decided to move forward with a simple solution by launching REVEALCOVID-19 PLUS Total Antibody.”
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