Decision Diagnostics Corp (OTCMKTS:DECN) Continues to Move Higher After Filing Provisional Patent
Over the course of the past weeks, many healthcare stocks have managed to record significant gains, and one of the stocks to have entered that company recently is Decision Diagnostics. The company is involved in the manufacturing and global distribution of diabetic test strips. Those strips can work on legacy glucose meters as well, and hence, these strips can be used in an affordable manner across a range of meters.
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The company is also on the verge of completing the development of inspired technology diabetic strips. The most important thing to keep in mind is that Decision Diagnostics is currently competing with a range of legacy manufacturers, who control as much as 71% of the at-home testing market worth $15 billion.
Recently, the company had another major boost after it came up with its new coronavirus COVID 19 testing product named GenVirol. At this point in time, the product is not yet available in Puerto Rico or the United States, but Decision Diagnostics is working on emergency waivers from the relevant authorities.
The company is currently engaged in presenting the product to the powers that be in Washington. It is a fast testing kit and has already created a buzz in the market about the Decision Diagnostics stock.
The Decision Diagnostics stock has rallied by as much as 150% over the course of the past two weeks, and it is likely that the stock is going to be in the radars of many investors over the coming days. On June 17, the company announced that it filed a patent for GenVirol through Pharma Tech Solutions, the company’s subsidiary. The product is known as GenVirol Swift Professional, and it has been described as “Method and Apparatus for Swift Determination of the Covid-19 Virus.” Currently, there is a lot of demand for COVID 19 testing kits for obvious reasons and company’s which have managed to come up with viable products have seen their stocks soar.
On the other hand, it is important to point out that Decision Diagnostics has also incorporated superior technology into the product in order to ensure that the results are delivering even faster than before. The new technology can apparently lower the time needed for delivering the results by as much as 30%, and that is a significant improvement on the previous version of the product.
The swiftness of product delivery is a highly sought after quality in COVID 19 test kits, and that could work in Decision Diagnostics’ favor. Hence, the GenVirol test strip has the potential of being one of the fastest COVID 19 tests on the market. The company has stated that the kit availability schedule is expected to remain intact.
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