SONA NANOTECH INC – SONA TSX
Rapid Covid Antigen Test – Employee Screening
Should You Buy These Shares !
David Regan, Chief Executive Officer of Sona Nanotech commented, “Large companies, employing thousands of people, are telling us that they cannot source rapid antigen tests which they view as critical to their business continuity and for the safety of their employees. Sona’s rapid COVID-19 antigen test is perfectly suited for the task “
During the summer months these shares soared 8 fold skyrocketing from under $2.00 to over $15.00. A recent consolidation has presented what we think is an entry opportunity . The news that the US FDA Emergency Use Authorization ( EAU ) has been de-prioritized, a fact that is no surprise to many investors. Why should the US approve a Canadian Co’s test over its own country’s tests.
The surprise comes from why the Canadian government and Health Canada dont give an Interim Order Authorization ( IO ) to SONA. Maybe they will and this wild ride will start all over again , thats why at these levels we believe the upside potential is great while the downside is minimal.
SONA has already started to sell tests to Canadian companies under ” Research Use Only” labelling
Sona Nanotech Receives ‘Deprioritization’ from FDA; Health Canada Evaluation Continues
Halifax, Nova Scotia–(Newsfile Corp. – October 29, 2020) – Sona Nanotech Inc. (CSE: SONA) (OTCQB: SNANF) (the “Company”), a developer of rapid, point-of-care diagnostic tests, received notice from the FDA that the Company’s request for an emergency use authorization (“EUA”) for the marketing of its rapid COVID-19 antigen test in the United States “is not a priority” and consequently such authorization will not be issued at this time. The FDA cited current EUA request prioritization criteria as including “the public health need for the product” and did not comment on the performance of the Sona test.
Health Canada continues its evaluation of the Company’s application for an Interim Order (“IO”) authorization for its test as a ‘point-of-care’ medical diagnostic device. The Company yesterday received additional questions on its application. Also, Health Canada has submitted the Company’s tests to the Public Health Agency of Canada’s National Microbiology Laboratory for evaluation, which is ongoing. MORE
Neither PSN nor its owners, members, officers, directors, partners, consultants, nor anyone involved in the publication of this website, is a registered investment adviser or broker-dealer or associated person with a registered investment adviser or broker-dealer and none of the foregoing make any recommendation that the purchase or sale of securities of any company profiled in the PSN website is suitable or advisable for any person or that an investment or transaction in such securities will be profitable. The information contained in the PSN website is not intended to be, and shall not constitute, an offer to sell nor the solicitation of any offer to buy any security. The information presented in the PSN website is provided for informational purposes only and is not to be treated as advice or a recommendation to make any specific investment. Please consult with an independent investment adviser and qualified investment professional before making an investment decision.