Breakout Stocks   Corona Virus Stocks

One of the stocks to have made a major move over the past week is that of Predictive Technology Group Inc (OTCMKTS:PRED). During that period, the stock has managed to rally by as much as 130%. However, there has been no material news regarding the company’s business that could have triggered such a rally. Hence, it is imperative to take a look at some of the events surrounding Predictive Technology in recent times.

FNGR These Shares On Fire As Shorts Scramble

Company Overview

The company is involved in the healthcare space and is involved in innovations in relation to precision patient care. Predictive Technology performed gene-based analytics in order to come up with therapies and diagnostic tests.

In addition to that, it also manufactures companion therapeutics that can support the patient while he is going through a particular treatment.

Predictive Technology claims that through the mapping of genetic throughout the life of a patient; it can provide physicians with superior options.

COVID 19 Product

One of the more important developments for Predictive Technology has been the company’s foray into the COVID 19 medicine space. In April this year, the company submitted an Emergency Use Authorization application to the United States Food and Drugs Administration for one of its products.

The product in question is made from mesenchymal stem cells (MSCs) and the company claims that it can be used to treat patients who are suffering from respiratory complications arising out of COVID 19 infection. The cells in the product are sourced from the tissue of the umbilical cord.

At the time when the company filed the application, the chairman of Predictive Technology John Sorrentino spoke about the potential of the product.

One of the notable effects of COVID 19 is the cytokine storm and that can lead to breathing difficulties. Sorrentino claims that MSCs could be an effective treatment to treat cytokine storms.

COVID 19 Test

In addition to the potential treatment for COVID 19 symptoms, Predictive Technology also came up with a COVID 19 IgM/IgG Rapid Antibody Test.

In April, the company announced that its distribution partner Wellgistics placed an initial order of as many as 1 million units of the testing kit. The product in question is known as Assurance AB and is meant for healthcare workers and laboratories in the United States.

Considering the fact that COVID 19 cases have seen a significant spike in recent days, there could be a higher demand for the company’s testing kits. Investors could do well to keep an eye on the Predictive Technology stock.

Neither PSN nor its owners, members, officers, directors, partners, consultants, nor anyone involved in the publication of this website, is a registered investment adviser or broker-dealer or associated person with a registered investment adviser or broker-dealer and none of the foregoing make any recommendation that the purchase or sale of securities of any company profiled in the PSN website is suitable or advisable for any person or that an investment or transaction in such securities will be profitable. The information contained in the PSN website is not intended to be, and shall not constitute, an offer to sell nor the solicitation of any offer to buy any security. The information presented in the PSN website is provided for informational purposes only and is not to be treated as advice or a recommendation to make any specific investment. Please consult with an independent investment adviser and qualified investment professional before making an investment decision.