GBS Inc Stock Price Gains on New SARS-CoV-2 Antibody Test

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Analyst Team
Updated: 30 Nov 2021

GBS Inc stock soared nearly 60% in Tuesday early trading, with the news that the company will start preparation for clinical trials of its rapid SARS-CoV-2 Antibody test, following successful clinical validation. Following the ‘omnicron’ variant panic, healthcare companies have been thrown back under the spotlight as they compete in vaccines, tests, and generally navigate the everchanging landscape.

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The clinical validation study was conducted at the Wyss Institute at Harvard University – with the objective of developing a diagnostic test to detect SARS-CoV-2 IgC in human plasma. The trial results found that the test was 100% sensitive to positive and negative plasma samples, taking less than 10 minutes to obtain results. GBS is now planning on submitting an Emergency Use Authorization request to the FDA.

Dr. Steven Boyages, Interim GBS CEO and Chairman of the Board stated:

“Our objective is to deliver an antibody test to supplement the ongoing rollout of COVID-19 vaccines, and the subsequent testing of the global population. As we have witnessed with the Delta variant, and now the emerging Omicron variant, COVID-19 is going to be a part of our lives for the foreseeable future. It is therefore paramount we succeed in delivering our technology to the people that need it the most as soon as possible for both population and post-vaccination screenings.”

GBS stock is continuing to rally at the time of writing, with an impressive daily gain of 75%, trading around a price of $2.82.

Is Now a Good Time to Invest In GBS Shares?

Healthcare stocks, including GBS shares, saw a wave of investors buy their shares during the pandemic. Governments also pumped money into the companies in an attempt to speed up the vaccine process. But, what happens now vaccines have been approved and the pandemic is becoming less prominent? Should we still invest in coronavirus-focused healthcare stocks? Or should we look to firms tackling other areas? Here are the best healthcare stocks to buy now…

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