The world has been gripped by a global pandemic known as the Coronavirus, which saw nations shut down its boarders and cities in complete lockdowns as a means to mitigate the spread of the Coronavirus. Companies around the world have been steadily working to find treatments, vaccines, and innovative technology to aid in the reduction of infections, and in hopes of finding a cure.
One such company we have been very bullish on during this pandemic has been a small Canadian company called Sona Nanotech (CSE: SONA) (OTCQB: SNANF) Sona Nanotech is a life sciences company that has been working on its rapid screening test for Covid-19. On Thursday July 2nd 2020, SONA announced positive developments in regards to the company’s rapid detection test, which resulted in a 96% sensitivity test and sales will now be permitted under a “research use only” label. SONA’s rapid detection screening technology is able to detect patients with Covid-19 in 10 – 15 mins when compared to a RT-PCR test which takes approximately 24 – 48 hours. The CEO of SONA Mr. Darren Rowles was quoted, "These excellent performance results are underpinned by our unique nanorod technology and completes a further milestone achieved for Sona along our path to bring a quality rapid test to market at scale. This will allow expansion of testing by governments, help ease the burden on healthcare systems, keep healthcare workers safe by allowing them to know their status on a daily basis and assist in softening restrictions by providing a quick and simple means to screen individuals. Our team have worked tirelessly to bring this product to this point in a record time and my thanks goes out to all involved in progressing the test this far”.
On these developments, shares of SONA soared 122% on Friday as shares of SONA closed at 6.97 at the end of the trading session. Although these developments are fantastic for Sona Nanotech, the company still needs to receive approval from the Food and Drug Agency (FDA), and if SONA is successful in receiving approval in the near term, SONA has a large chance of hitting the double digit range.
We first introduced investors to SONA on March 16th 2020 in our article title “2 Coronavirus Stocks To Watch” at $.51 cents and since March 16th 2020, shares of SONA have rallied to a high of $7.38, giving a return on their investment of 1,347% since our alert. Investors looking for another great investment opportunity may want to look at our most recent marketing technology company Zoomd Technologies (TSX-V: ZOMD) (OTC: ZMDTF) that we put on alert and shares closed up 48%, closing at .43 cents at the ed of the trading session on July 3rd 2020.
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