[Featured Stock] Diagnostic Kit Shortage Crisis... Genomictree Rises Over 6%

[Asia Economy Reporter Lee Seon-ae] Amid a surge in COVID-19 cases causing a shortage of diagnostic kits, related stocks are collectively showing strong performance. Genomictree is also linked to diagnostic kit stocks, attracting buying interest and driving its stock price upward.

As of 2:30 PM on the 3rd, the stock is trading at 12,500 KRW, up 5.93% from the previous trading day. During the session, it rose to as high as 12,750 KRW.

Previously, Genomictree signed a global sales and supply agreement for the COVID-19 molecular diagnostic kit 'AccuraDtect SARS-COV-2 RT-qPCR Kit' with Daewoong Pharmaceutical and is jointly collaborating on this effort.

AccuraDtect diagnoses viral infection by targeting not only the commonly detected N2 gene of the COVID-19 virus but also the leader sequence, which is the most abundant in infected cells. Additionally, it uses real-time polymerase chain reaction (RT-qPCR), a gene amplification technology that explosively increases viral genes for detection, resulting in high accuracy. It is a highly sensitive COVID-19 molecular diagnostic kit that can provide results within 4 hours after sample collection.