Bio-Techne [NASDAQ: TECH] Preparing To Launch Quantitative COVID-19 Serology Test

Bio-Techne Corporation [NASDAQ: TECH] disclosed Monday it is gearing up for the launch of the COVID-19-Seroindex,  a Kantaro Quantitative SARS-CoV-2 IgG Antibody RUO kit.

Bio-Techne and Mount Sinai Health System commercial affiliate Kantaro Biosciences LLC will take advantage of a joint commercial and distribution team to rapidly distribute the vaccine to the vaccine development team. It is expected that the COVID-19 SeroIndex test kit will be available for research use in early August.

Shares of Bio-Techne soared 1.96% and up +5.38 cents during the trading of Monday. It has opened at $278.45 and has a closing price of $280.54. TECH has a day low range of $276.86 and a day high range of $281.67.

If we look at its profitability, its return on assets (ROA) is 9.60%, return on equity (ROE) is 15.10%, and return on investment (ROI) is 6.90%. Its Gross Margin is 66.00%, Profit Margin is 24.80% and an Operating Margin is 21.40%.

Turing our focus on its liquidity, its current ratio is 4.70 and a quick ratio is 3.70. Bio-Techne has reported the sales of 754.50 million. TECH has a total market capitalization of 10.58 billion.

In the past 52-weeks of trading, its stocks have fluctuated between the low of $155.17 and a high of $286.69. It has increased 80.80% from its 52-weeks low and decreased -2.14% from its 52-weeks high.

The COVID-19 SeroIndex test kit is an ELISA or enzyme-linked immunosorbent assay created to check the presence or absence of COVID-19 anti-bodies. The Sero Index Tets kit is also capable to measure how many antibodies a person will produce.

This latest technology was created by Mount Sinai’s internationally recognized team of virologists and pathologists and has been tested on over 50,000 patient samples. It uses two virus antigens: the full-length spike protein and its receptor-binding domain.