VRAX: Virax Biolabs transformative preventive diagnostic platform supports higher stock price.
NASDAQ:VRAX
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On September 12, 2023, Virax Biolabs (NASDAQ:VRAX) announced the launch of an early access program for research-use-only ("RUO") of its proprietary SARS-Cov-2 ViraxImmune T-cell-based test.
The early access program offers select research groups an opportunity to be at the forefront of immune assessment advancements. The RUO form of Virax's T-cell-based test is designed to assess the activation of memory T-cells specific to the SARS-Cov-2 by combining an ELISpot assay with a peptide pool covering specific protein parts of the virus.
The test requires the isolation of peripheral blood mononuclear cells ("PBMCs") from blood samples that are then seeded onto the company's pre-coated ELISpot plate. The cytokines secreted by the cells upon stimulation with the peptide pool are immediately captured by the antibodies bound to the plate and detected through a series of reactions with antibodies and enzyme-substrate interactions, resulting in visible spots. Each spot represents a single cytokine-secreting cell, allowing for high-resolution analysis of immune responses at the cellular level.
This test provides a quantitative assessment of immune response, which will help to develop a deeper understanding of an individual's immune profile. The Company's tests are compatible with a wide range of ELISpot readers, ensuring ease of use without requiring additional costly laboratory equipment.
Interested participants in this program can reach out to the company through the contact information on their website, https://www.viraxbiolabs.com.
Company Chief Executive Officer James Foster stated, "We are thrilled to launch this early access program for the RUO of our proprietary ViraxImmune T-cell based test. We look forward to working with early adopters who also share the vision to be at the frontier of cutting-edge diagnostics and bringing value to human immune health."
The Chief Scientific Officer Dr. Tomasz George stated, "We are excited to get our proprietary T-cell-based tests in the hands of researchers as demand is growing for T-cell tests due to its advantages when compared to antigen and antibody-based tests in the context of determining long-term immunity to viral threats. Although this initial iteration of our test targets specifically Sars-Cov-2, we believe that our tests are adaptable to a broad range of immunological threats in different settings, from personal use to utilization by governments and the pharmaceutical industry."
Leadership Change
On September 1, 2023, the company announced the appointment of Dr. Nigel McCracken as the new Chief Operating Officer ("COO"). Dr. McCracken will succeed Mr. Cameron Shaw, who is moving to Virax's Advisory Board, and will lead the Company's various growth initiatives, including the company's recently announced research-use-only launch of ViraxImmune. As COO, Dr. McCracken will lead Virax's research and clinical teams as well as the execution of the company's go-to-market strategy for ViraxImmune.
Before joining Virax, Dr. McCracken was the Chief Scientific Officer at OTC traded BerGenBio AsA where he drove the plan for BerGenBio AsA's companion diagnostics and assay development. Prior to that role, he served as COO at Nasdaq listed NuCana PLC, a clinical-stage biopharmaceutical company focused on significantly improving treatment outcomes for patients with cancer, where he provided oversight and direction to the operations of the business, research and development, and execution of corporate strategy.
Valuation and Estimates
Virax Biolabs is positioning itself for strong profitable growth and we believe the stock is worth $2.00 based on our discounted cash flow calculation which incorporates conservative estimates and a high discount rate.
CEO James Foster stated, “We continue to focus heavily on piecing together a comprehensive preventative diagnostics platform. By combining cutting-edge technology, strategic partnerships, and a strong infrastructure, we strive to create a unified system that enables early detection and proactive prevention of diseases worldwide.”
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