Happiness Biotech Group Ltd. (HAPP) shares are surging over 58% in pre-market today, after the nutraceutical and dietary supplements producer announced that the company, together with Fuzhou University, have achieved a breakthrough in developing Covid-19 Testing Kits.
Currently, the main Covid-19 detection method is nucleic acid detection. The average detection takes 5-6 hours, while the misdetection rate is high and the cost is high. The company made a breakthrough and successfully developed the colloidal gold testing kit by adopting the antibody detection method.
The colloidal gold testing kits not only greatly improve the success rate of detection, but also greatly shorten the detection time to 10-15 minutes, while the cost is relatively low compared to the nucleic acid detection, the company added.
The stock has been trading between $2.44 and $6.10 in the past one year, and is currently trading at $4.00, up $1.47 or 58.10% in the pre-market trading session.
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