What's Going On With Virax Biolabs Stock Wednesday

Virax Biolabs Group Limited VRAX stock is trading higher on Wednesday after the company announced it entered into a distribution agreement with a supplier of RT-PCR Mpox detection kits.

The Details: Under the agreement, Virax will manage the selling and circulation of the Mpox detection kits in 13 European countries and in countries apart of the Gulf Cooperation Council.

The Gulf Cooperation Council consists of Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates. The 13 European countries include the United Kingdom, France, Portugal, The Netherlands, Belgium, Sweden, Finland, Denmark, Norway, Germany, Spain, Switzerland and Austria.

These tests have a sensitivity rate of 96.7% and a specificity rate of 93.72%, with results available in under 70 minutes.

“Mpox virus poses a serious threat, and we continue to be committed to equipping healthcare professionals with the necessary tools to diagnose and mitigate its spread,” James Foster, CEO of Virax Biolabs. 

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VRAX Price Action: At the time of publication, Virax shares are moving 30.3% higher at $6.37 per data from Benzinga Pro.

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