Full service medical diagnostics firm Todos Medical Ltd (OTCMKTS:TOMDF) was in focus among investors yesterday and had ended up with gains of as much as 5% amidst significant interest. The company announced yesterday that 3CL Pharma Ltd, its majority owned joint venture had been awarded a Notice of Allowance by the United States Patent and Trademark Office for its product TolloTest.
On Tuesday, TOMDF stock surged 5.11% to $0.0185 with more than 2.67 million shares, compared to its average volume of 10.60 million shares. The stock moved within a range of $0.0153 – 0.0196 after opening trade at $0.0196.
Todos Medical Announces USPTO Trademark Notice of Allowance for 3CL Protease Biomarker Diagnostics TolloTest™
The product was developed by 3CL Pharma for the purpose of detecting he quantity of 3CL protease that may be present in samples of human tissues. It was further noted that TolloTest has the capability of providing PCR level accuracy in terms of results and hence, the optimism among investors is perhaps understandable.
It should be noted that not too long ago positive data with regards to the efficacy of TolloTest had been published by the company when the test had been done in outpatient and hospitalized environments. The latest announcement was a significant one and it now remains to be seen if the Todos Medical stock can actually manage to hold on to its momentum over the course of the coming days or not. It may be a good time to add it to your watch lists.
“The tremendous work we did in Israel in discovering and proving this 3CL protease disease mechanism will be crucial in the next steps of expanding the widespread adoption of supplements and drugs to reduce SARS-CoV-2 replication and immune system downregulation,” said Dr. Dorit Arad, Founder and Chief Technology Officer at 3CL Pharma.
TOMDF stock is trading below the 20-Day and 50-Day Moving averages of $0.0210 and $0.0230 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0276.