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Nutriband Soars on Manufacturing Agreement with Diomics

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By Sam Boughedda

Investing.com — Nutriband (NASDAQ:NTRB) stock jumped 35% on Tuesday after it signed an exclusive manufacturing agreement with San Diego-based Diomics for its Diocheck patch, which monitors the presence of Covid-19 antibodies.

It can take several weeks for Covid-19 antibodies to circulate the body. The company said the goal of the patch, which bears a resemblance to a nicotine patch, is to monitor the gap between when an individual is given the Covid-19 vaccine and when antibodies are present. They also believe it can signal when the individual may also need a booster shot.

The test can report within 24 to 36 hours whether a person has a circulating level of Covid-19 antibodies. According to Diomics, a positive response will cause a change in skin color visible through the patch. It is expected to be effective for up to 2 weeks. Diomics has applied for approval of the Diocheck device by the Food and Drug Administration.

Nutriband shares were trading around $10.05 Tuesday morning.

Gareth Sheridan, CEO of Nutriband, said: ‘This exclusive contract with Diomics to manufacture Diocheck allows Nutriband and our contract manufacturing subsidiary, Pocono Pharma, to showcase our capabilities with innovative new patch technologies."

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