One of the stocks to have made a major move over the past week is that of Predictive Technology Group Inc (OTCMKTS:PRED). During that period, the stock has managed to rally by as much as 130%. However, there has been no material news regarding the company’s business that could have triggered such a rally. Hence, it is imperative to take a look at some of the events surrounding Predictive Technology in recent times.
The company is involved in the healthcare space and is involved in innovations in relation to precision patient care. Predictive Technology performed gene-based analytics in order to come up with therapies and diagnostic tests.
In addition to that, it also manufactures companion therapeutics that can support the patient while he is going through a particular treatment.
Predictive Technology claims that through the mapping of genetic throughout the life of a patient; it can provide physicians with superior options.
COVID 19 Product
One of the more important developments for Predictive Technology has been the company’s foray into the COVID 19 medicine space. In April this year, the company submitted an Emergency Use Authorization application to the United States Food and Drugs Administration for one of its products.
The product in question is made from mesenchymal stem cells (MSCs) and the company claims that it can be used to treat patients who are suffering from respiratory complications arising out of COVID 19 infection. The cells in the product are sourced from the tissue of the umbilical cord.
At the time when the company filed the application, the chairman of Predictive Technology John Sorrentino spoke about the potential of the product.
One of the notable effects of COVID 19 is the cytokine storm and that can lead to breathing difficulties. Sorrentino claims that MSCs could be an effective treatment to treat cytokine storms.
COVID 19 Test
In addition to the potential treatment for COVID 19 symptoms, Predictive Technology also came up with a COVID 19 IgM/IgG Rapid Antibody Test.
In April, the company announced that its distribution partner Wellgistics placed an initial order of as many as 1 million units of the testing kit. The product in question is known as Assurance AB and is meant for healthcare workers and laboratories in the United States.
Considering the fact that COVID 19 cases have seen a significant spike in recent days, there could be a higher demand for the company’s testing kits. Investors could do well to keep an eye on the Predictive Technology stock.
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