This Micro Cap Just Popped on Covid-19 Related FDA Approval

This Micro Cap Just Popped on Covid-19 Related FDA Approval

By: Dylan Sikes – News

Tuesday, October 13, 2020

FDA approval is always an exciting event for a company and shareholders alike, as it is confirmation that the hard work put in to the product/drug has paid off. With Covid-19 still altering our daily lives due to the fear of not only getting the virus, but potentially spreading it to those around us, calls for the increased need for accessibility as well as accuracy of tests.

This afternoon, Victory Square Health Inc. – a portfolio company of Victory Square Technologies Inc. (CSE:VST), announced that it was granted permission by the Food & Drug Administration (FDA) in the United States to commence marketing, sales and distribution under the emergency use authorization (EUA) for its Safetest 15 Minute Rapid Test Covid-19 assay. According to the release, this test “enables the user to receive results with a 96.6% sensitivity in 15 minutes by a simple blood sample similar to that of a hand held diabetes reader.”

During times like these, any news toward better combating the virus is a breakthrough. Traders agree as shares trading on the CSE shot up to $.77/share (+42.6%) following the news. This move comes just months after the bullish pop that was seen in late August of this year.

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