Deepverge PLC (LON: DVRG) share price spiked 12.3% after unveiling plans to launch the third generation of its compact Microtox PD COVID-19 detection system, which works in areas where large groups of people gather.
The pandemic surveillance system was developed by Modern Water, a subsidiary of Deepverge. It can help villages, towns, hotels, hospitals and ports, among other areas that host large groups of people.
Deepverge plans to launch the device in Q1 2022 to bring real-time monitoring of the COVID-29 pandemic’s spread to local communities and private companies to help protect citizens from the pandemic.
The Microtox PD system monitors for COVDI-19 and other pathogens such as forever chemicals, which can help the relevant authorities craft the correct response to incidences of the pandemic.
Some of the benefits associated with the system include real-time monitoring of COVID-19 at the community level, zero transport costs of samples that are not confirmed to have the virus, and testing for COVID-9 variants on confirmed samples at the laboratory.
Investors cheered the news evidenced by today’s rally in the Deepverge share price, but the spike higher did not last, and the stock had retraced most of its gains at writing.
Gerry Brandon, CEO of DeepVerge plc, commented: “Size, cost, reach and route to market have been heavily thought through with our new 3rd generation designs. The units are now smaller – allowing them to be installed for smaller populations; mobile – allowing them to be taken to where populations gather; mass-producible – allowing more affordability for customers; and, just as importantly, available for new partner opportunities.
“We have also built into our business model the capability for these units to be manufactured and franchised to companies in the developing world, to be sold at locally affordable prices.”
Investors interested in owning Deepverge shares may find their current prices quite attractive since they are trading near a support level. Still, conservative investors may choose to wait for a deeper pullback to the October lows around the 20p level.
However, it would be best to remember that there are no guarantees that we will get a deeper pullback.
*This is not investment advice. Always do your due diligence before making investment decisions.
Deepverge share price.
Deepverge share price spiked 12.29% higher to trade at 30.60p, rising from Thursday’s closing price of 27.25p.
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