[Featured Stock] LabGenomics Rises on Expectations of Expanded COVID-19 Test Kit Supply

[Asia Economy Reporter Minji Lee] LabGenomics has been on a sharp rise for two consecutive days following news that it is discussing the expansion of supply for its COVID-19 diagnostic kits.

As of 2:55 PM on the 21st in the KOSDAQ market, LabGenomics was trading at 12,800 KRW, up 13.27% from the previous session.

The previous day, LabGenomics announced that it had completed the development of its COVID-19 diagnostic kit and is currently negotiating supply to China. Recently, the company reportedly received an official request for supply of the COVID-19 diagnostic kits from the First People's Hospital of Nanyang City, China.

A company representative stated, “We are discussing the details of the supply contract in response to the request from the First People's Hospital of Nanyang City,” adding, “We are also receiving inquiries about the diagnostic kits from Europe and are conducting negotiations mainly with existing clients.”