Monkeypox is scaring policymakers and leaders from all over the world. Considering the sort of impact the COVID-19 pandemic had two years ago, the caution is understandable. Hence, companies that are working on rapid testing kits and other products meant for tackling the situation are getting significant attention from investors.

The latest company to have come into the radars of investors is ViraxBiolabs (NASDAQ:VRAX), which announced this morning that it had started distributing its monkeypox antigen rapid testing kit. The product was launched in those markets which accept the CE mark and that include the European Union. The news came as a source of considerable excitement among investors and the VIrax stock has managed to clock gains of as much as 45% this morning already.

It has emerged as one of the stocks that could be tracked by investors this week amidst a remarkable rally owing to a significant milestone. The test kits that are being distributed by Virax are supposed to be deployed in a point-of-care setting and the results are generated in around 15 minutes. In a press conference earlier today, the company made that announcement.

James Foster, who is the Chief Executive Officer and Chairman of the company, spoke about the latest development as well. He noted that the company was trying to get the testing kits to the hands of qualified health practitioners as quickly as it possibly can. In addition to that, the testing kits could also be used for the purpose of screening those individuals who have been exposed to monkeypox in any shape or form.

Anyone who is willing to get those kits could get them through the sales representatives of Virax. The company has provided the contact information for the same on its corporate website.

By Ruchika Gupta

I am Ruchika Gupta, a post-graduate woman. Having completed my Masters - in English. I like to write and thus have worked as a content writer for over nine years. I have gained much insight into the financial sector, having written plenty about it. Currently, I have been following up and writing on the biotech industry, which has given me handsome knowledge of the same.

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