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Investors are often drawn to companies that are working on the development of innovative products. There are many companies that are working on such products and one that could be of interest at this point in time is Therma Bright (THRM.V) (OTCMKTS:TBRIF).

Market Stats

On Wednesday, TBRIF stock fell 5% to $0.0551 with 11K shares, compared to its average volume of 6.3k shares. The stock moved within a range of $0.0551 – 0.0551 after opening trading at $0.0555.

The company, which is involved in developing innovative medical device technologies, is currently working on the development of the AcuVid™ COVID-19 Rapid Antigen Saliva Test. Earlier on this week, the company provided an update with regards to the Emergency Use Authorization application it had filed for the product with the United States Food and Drug Administration.

In the update that was provided by the company earlier this week on September 12, 2022, Therma Bright noted that it had been notified by the FDA that an initial review of the application had in fact been completed. The FDA has asked for more details regarding the product.

Therma Bright announced that it was working diligently with its suppliers and strategic partners at this point in time so as to be in a position from which it can answer all the questions as clearly as possible. After the process is concluded, Therma Bright is going to work on the resubmission of the Emergency Use Authorization application, which would bear all the additional information that had been sought by the FDA. Rob Fia, who is the Chief Executive Officer of the company, spoke about the situation as well.

He noted that the company and its strategic partners were confident about the performance of the AcuVid™ COVID-19 Rapid Antigen Saliva Test. Hence, the company was going to continue to work with the FDA in order to eventually bring the product to the United States market. He went on to add that the company would provide all the details and specific data that would be needed for the authorization process.