There’s a comparatively new virus in town that’s taking the place of COVID-19 in news cycles, and it’s the Marburg virus. Virax Biolabs (NASDAQ:VRAX) set up a new deal that would allow it to join in the fight against Marburg. However, investors didn’t take the news well; after a huge jump earlier in Wednesday’s trading, Virax ultimately closed down just over 7%.
Virax offered up its line of Marburg Virus Real-Time PCR testing kits for distribution, allowing the kits to be used in any area that will accept a CE mark. The testing kits are designed to detect certain strains of ribonucleic acid (RNA) from the virus itself. The Marburg Virus itself causes hemorrhagic fever, which makes it a potentially lethal virus if not caught and addressed rapidly. James Foster, Virax’s current board chairman and CEO, noted that the release of the Marburg test kits is “…a significant step forward in our mission to improve global health.”
That’s not all that’s in Virax’s pipeline, though; it’s currently working on a new T cell testing platform known as Virax Immune. Virax Immune doesn’t test for any particular disease but rather offers up a more complete test of a user’s overall immune system. Since Virax Immune checks for T cells rather than any particular antigen or antibody, the end result is a test that offers more worthwhile information about a user’s ability to fight infection.
However, a look at the last five days in Virax trading shows us something of a disaster in the making. Virax was on a downward trajectory at the start of the period until that huge new jump hit earlier today. But Virax lost all those gains and then produced an entire new slump to follow. Thus, Virax is ultimately down over 5% in the last five days.
