Shares of nano-cap diagnostics firm Virax Biolabs Group (NASDAQ:VRAX) greater than doubled in worth within the morning hours Thursday as the corporate drew Wall Avenue’s consideration amid a rising variety of chook flu circumstances worldwide.
A number of international locations, together with the U.S., have already reported human chook flu infections because the extremely pathogenic avian influenza virus, together with its H5N1 kind, continues to unfold in poultry and cattle.
On Wednesday, the World Well being Group (WHO) confirmed the demise of a 59-year-old linked to chook flu in Mexico, marking the primary laboratory-confirmed human case of an infection with the H5N2 pressure of the virus.
In March 2023, Virax (VRAX) launched its avian influenza A virus real-time PCR check package within the European Union for laboratory use. The check can detect and differentiate H5, H7, and H9 subtypes, together with the H5N1 pressure of the virus, the U.Ok.-based agency mentioned on the time.