Trinity Biotech PLC (TRIB) stock prices were up 11.70% shortly after market trading commenced on July 16th, 2021, bringing the price per share up to USD$2.229 early on in the trading day.
Rapid Antigen Test
The company reported being at an advanced stage in the development of an antigen test for the coronavirus that has been devastating the globe. The company leverages its core lateral flow technology to develop the test, which can be utilized without any specialized equipment, providing a result in 12 minutes. Accessibility is further enhanced with its easy-to-use anterior nasal swab sample.
Scope of Antigen Test
With the onset of the global coronavirus having signaled an unfathomable long-term toll on economies across the world, the world’s ongoing efforts to mitigate and eventually nullify its effects persist. As public health efforts continue with full force, antigen tests have played a critical role in the overall diagnostic response. As the world hurtles towards universal immunization, the company expects antigen tests to be a part of the core response to the pandemic, in combination with Covid-19 vaccinations.
Rapid Antibody Test
June 2021 saw the company submit a EUA application to the FDA for the UniGold Covid-19 rapid antibody test, which detects IgG antibodies against the coronavirus. The antibody test demonstrated a 100% sensitivity and a specificity of 95% over the course of the validation studies. The test was measured against a comparator PCR method which facilitated the confirmation of prior infection.
EUA Application
July 2021 saw the FDA inform TRIB that its application for the Emergency Use Authorization of the serological test would not currently be prioritized, on account of the sheer volume of EUA requests currently being processed by the government agency. In order to facilitate the timely commercialization and proliferation of its treatment, the company is exploring additional prospective pathways that would see it gain regulatory approval, thus allowing sales of the test in the U.S. Hitherto, any such potential options have required too significant and additional investment for them to be viable.
Future Outlook for TRIB
With the world’s continued efforts towards the aim of making the coronavirus a thing of the past, TRIB is poised to capitalize on the access it has gained to a burgeoning market. The company is keen to leverage its resources in order to drive increased market penetration. Current and potential investors are hopeful for the stock price to recover and increase over the long term.
