Sona Nanotech (CSE: SONA) has been granted CE Mark status for its rapid COVID-19 antigen test. The implication of receiving such designation is that it declares conformity with EU regulations, enabling the company to commercialize the nasal swab test within Europe and other territories where the designation is recognized.
The company is now able to take orders from regions that accept the CE Mark designation while also being able to commit to manufacturing with its contract manufacturer based in the United Kingdom. The company notably is also in the process of enlisting a second manufacturer, whom is based within North America.
Sona has indicated that it is currently focused on selling the test as a screening tool for firms looking to screen persons in high-risk settings. The company follows this statement however with the clause that results from the test should be “assessed in the context of the local prevalence of the virus and considered ‘presumed’ positive or negative until confirmed by a physician.”
With the commencement of sales, SONA has indicated that it intends to update the market with material developments along with quarterly sales volumes.
Sona Nanotech last traded at $1.60 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.
