[Featured Stock] LabGenomics Supplies LDT Kits to US with 90% Cost Reduction... Increased COVID Variant Diagnosis Performance

LabGenomics is showing strong performance. As the number of COVID-19 variant virus infections rapidly increases worldwide, news that LabGenomics' COVID PCR diagnostic kit can detect variant viruses appears to be influencing its stock price.

A LabGenomics representative stated, "We have completed development of the RPP essential LDT kit (respiratory LDT kit) for the US CLIA Lab market and will ship the first batch in September. The cost of this respiratory kit is less than 90% compared to the respiratory kits previously used in the US," adding, "Even if it is not a COVID kit, it can still test for coronavirus, so if the number of COVID tests increases, a significant improvement in performance is expected."

As of 1:28 PM on the 8th, LabGenomics is trading at 3,935 KRW, up 6.06% from the previous day.

The PCR COVID diagnostic kit developed by LabGenomics can also diagnose the resurging COVID variant viruses KP.2, KP.3, KP1.1, and the recently emerged LB.1. An increase in PCR diagnostic demand is anticipated. The COVID PCR kit, which received Emergency Use Authorization (EUA) from the US FDA in May 2020, remains valid and allows direct PCR diagnosis in the US.

The new variant KP.3 originated from JN.1, which had become the dominant strain. According to the US Centers for Disease Control and Prevention (CDC), symptoms of KP.3 infection are similar to those of previously experienced COVID-19 variants but exhibit slightly different immune evasion capabilities. This means it has become more transmissible. Even those previously infected with COVID-19 may be susceptible to reinfection, highlighting the increasing importance of accurate PCR diagnosis.