Sona Nanotech (CSE: SONA) this morning had bombshell news, in that it has discontinued its clinical trial for a COVID-19 rapid antigen saliva test. The announcement follows the news from just two months ago that the company would be working with Humber River Hospital in Toronto to determine the clinical performance of the test.
In its announcement this morning, the company indicated that “encouraging analytical test results did not translate to an ability to consistently detect the virus in clinical samples.” Commenting on this, the clinical trial investigator Dr David Jacobs stated, “While there are many possible reasons for this discrepancy, the favored hypotheses are that either there is insufficient viral concentration in saliva, or there is an interfering substance in the saliva.“
In more detail, the firm found within the clinical trials that there was inadequate test sensitivity with clinical saliva samples, along with challenges associated with patient recruitment and enrollment in the study “as local prevalence of the virus has diminished significantly.”
As a result, the company has indicated that it will be refocusing its resources on other rapid test and further research of its gold nanorod technology.
Sona Nanotech last traded at $1.02 on the CSE.
Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
