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At this point in time, Therma Bright Inc (TSXV:THRM) (OTCQB:TBRIF) is best known for having developed the AcuVid™ COVID-19 Rapid Antigen Saliva Test but it has also been successful in developing other medical devices.
On Friday, THRM stock ended flat at C$0.1150 with 60K shares, compared to its average volume of 176K shares. The stock moved within a range of $0.1100 – 0.1150 after opening trading at $0.1150.
While it is true that there has not been a lot of news about the company in recent days, it should be noted that back on August 4, 2022, Therma Bright came up with a key update with regards to the AcuVid™ COVID-19 Rapid Antigen Saliva Test. The company announced at the time that it continued to be in discussion with the United States Food and Drug Administration with regards to its Emergency Use Authorization for the product.
However, that was not all. The company also announced that it had employed the services of the firm Ridge Global as well as FDA regulatory specialist consultants in order to figure out the best way to proceeds regarding the whole thing. Therma Bright is looking to accelerate the process of the Emergency Use Authorization of the product. The company had already responded to the request from the FDA for additional information and an initial review.
However, it expects to get requests for more information from the agency with regard to the responses that it provided. In this context, it is important to note that Therma Bright also noted that application it had made to Health Canada on an Interim Order for the product was moving along at a good pace. It may be a good idea for investors to keep an eye on the events.
THRM stock is trading below the 20-Day and 50-Day Moving averages of C$0.13 and C$0.14 respectively. Moreover, the stock is trading below the 200-Day moving average of C$0.23.