Why Are Shineco Shares Trading Higher Today?

Shineco Inc SISI shares are trading higher after its subsidiary, Changzhou Biowin Pharmaceutical Co Ltd, received marketing and distribution approval for its Cardiac 5-Minute Test from the Jiangsu Bureau of the National Medical Products Administration (NMPA).

The effective date for the diagnostic medical product's registration with the NMPA is June 21, 2023, and it shall remain valid for five years through June 20, 2028.

The Cardiac 5-Minute Test is a combination test of three major cardiac markers. One test can detect cardiac troponin I, myoglobin, and heart fatty acid binding protein for the clinical diagnosis of acute myocardial infarction. 

Following its approval by the NMPA, the Cardiac 5-Minute Test has become the first and only product on the market in China to complete the detection process for cardiac markers within 5 minutes. 

The Cardiac 5-Minute Test completes the detection of AMI within 5 minutes, allowing additional time for sample collection while maintaining the total diagnostic time within 10 minutes. 

Price Action: SISI shares are up 4.92% at $0.32 on the last check Monday.