Medical diagnostics company Todos Medical Ltd (OTCMKTS:TOMDF) could be one of the companies that you could track this morning in light of the developments from yesterday. The company announced yesterday that Provista Diagnostics, which is a CLIA/CAP certified laboratory, had started the validation work related to its PCR-backed polio testing.
Trading Data
On Wednesday, TOMDF stock ended flat at $0.0211 with 2.51 million shares, compared to volume of 9.80 million shares. The stock moved within a range of $0.0185 – 0.0214 after opening trade at $0.0211.
Todos Medical Initiates Validation Plan for PCR-based Polio Testing at CLIA/CAP Laboratory Provista Diagnostics
It was announced that the company is looking to validate a number of PCR assays related to polio and that is also going to include wastewater testing. In terms of early diagnosis needs, low viral load tests are going to be conducted. If the validation work ends as the company expects then it could be a significant new boost.
In addition to that, it ought to be noted that Todos Medical is involved in an industry that is growing at an impressive pace. As per a report from Precedence Research, the worldwide bioinformatics market had commanded a valuation of $13.2 billion back in 2021.
It is expected to grow into an industry worth a staggering $46.5 billion by 2030 and that represents CAGR of as much as 16.3%. The wastewater based epidemiology is a smaller section of the same market. It may be a good time to keep an eye on Todos.
Key Quote
“Wastewater surveillance has become a powerful tool that needs to be implemented systematically nationwide now that COVID, MonkeyPox, and Polio are circulating in the United States,” said Gerald E. Commissiong, President & CEO of Todos Medical. “Surveillance testing is an essential tool in controlling the community spread of these emerging viral pathogens. The lack of funding support for widespread testing makes wastewater surveillance our first line of defense in the detection of outbreaks. Given the tremendous value of wastewater testing data, policymakers could use it to enact COVID mitigation efforts, therefore we felt it was important for us to be able to offer this service to our emerging customer base for our Long COVID, UTI, Respiratory, GI, Wound and STD PCR panels.”
Technical Data
TOMDF stock is trading below the 20-Day and 50-Day Moving averages of $0.0262 and $0.0220 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0297. The company has a total market capitalization of $25.14 million.
