Hot stock: Biolidics down 8.7% after A*Star Covid-19 technology licence pact, Companies & Markets

Wed, Jul 15, 2020 – 12:08 PM

SHARES of Catalist-listed Covid-19 test kit maker Biolidics fell 8.7 per cent on Wednesday after news that it had entered into a five-year licence agreement with Accelerate Technologies, the commercialisation arm of the Agency for Science, Technology and Research (A*Star), for the use of the agency’s technology for Covid-19 viral spike detection.

Shares of Biolidics were trading at 52 Singapore cents on Monday before it announced a trading halt during the midday break, which it lifted on Wednesday before the market opened.

Shares of Biolidics hit a high of 55.5 cents minutes after the opening bell on Wednesday, before dropping to 44 cents as at 10.24am.

The counter was trading at 47.5 cents as at 11.43am, down 4.5 cents or 8.7 per cent from Monday. Some 43.6 million shares changed hands, making it one of the most-traded stocks by volume on the Singapore Exchange.

Biolidics on Tuesday said it aims to develop new serology tests incorporating A*Star’s technology, weeks after it announced a partnership with Aytu BioScience, its former US test kit distributor, to develop a new test kit with broader use outside of laboratory or clinical settings.

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