By Sam Boughedda
Investing.com — Nutriband (NASDAQ:NTRB) stock jumped 35% on Tuesday after it signed an exclusive manufacturing agreement with San Diego-based Diomics for its Diocheck patch, which monitors the presence of Covid-19 antibodies.
It can take several weeks for Covid-19 antibodies to circulate the body. The company said the goal of the patch, which bears a resemblance to a nicotine patch, is to monitor the gap between when an individual is given the Covid-19 vaccine and when antibodies are present. They also believe it can signal when the individual may also need a booster shot.
The test can report within 24 to 36 hours whether a person has a circulating level of Covid-19 antibodies. According to Diomics, a positive response will cause a change in skin color visible through the patch. It is expected to be effective for up to 2 weeks. Diomics has applied for approval of the Diocheck device by the Food and Drug Administration.
Nutriband shares were trading around $10.05 Tuesday morning.
Gareth Sheridan, CEO of Nutriband, said: ‘This exclusive contract with Diomics to manufacture Diocheck allows Nutriband and our contract manufacturing subsidiary, Pocono Pharma, to showcase our capabilities with innovative new patch technologies."