Virax Biolabs Group Ltd Stock Price, News & Analysis

Virax Biolabs Group Limited (Nasdaq: VRAX) announced a private placement to sell 2,330,000 shares at $1.65 per share, raising approximately $3.8 million before fees. In addition to the share sale, the company will issue warrants to purchase up to 3,495,000 shares at an exercise price of $1.73.

The net proceeds will fund the development of Virax's proprietary T-Cell Test technology and support working capital needs. The transaction is anticipated to close around November 8, 2022.

Virax Biolabs (Nasdaq: VRAX) announced the launch of its RSV-Influenza-COVID Triple Virus Antigen Rapid Test Kit for distribution in CE-mark markets, including the EU, in November 2022. This kit enables rapid detection of RSV, influenza, and COVID-19 within 15 minutes, enhancing at-home and point-of-care testing capabilities. RSV is notably a significant cause of hospitalization among infants and the elderly. The company's CEO, James Foster, emphasized its importance amidst rising infection rates in major economies.

Virax Biolabs Group Limited (Nasdaq: VRAX) announced the initiation of its Virax Immune COVID-19 Analytical Performance Study, scheduled for Q4 2022 to Q1 2023. The study aims to evaluate the technical performance of its Virax Immune COVID-19 Flow Cytometry Kit using specimens from 96 healthy volunteers. This proprietary T-Cell In-Vitro Diagnostic test technology seeks to assess individual immune risk profiles against viral threats, including COVID-19. The company plans to develop tests for other viruses, promoting affordability and scalability in diagnostics.

Virax Biolabs Group Limited (Nasdaq: VRAX) has entered an exclusive distribution agreement with Cosmos Holdings Inc. (Nasdaq: COSM) to market Monkeypox Virus Real-Time PCR Detection Kits in Greece and Cyprus, with non-exclusive distribution rights across Europe. This partnership aims to enhance rapid diagnosis and containment of the Monkeypox virus, a growing global health concern with over 61,000 confirmed cases reported in 104 countries as of September 16, 2022. Financial terms of the deal remain undisclosed.

Virax Biolabs (NASDAQ: VRAX) announced that CEO James Foster presented at H.C. Wainwright's 24th Annual Global Investment Conference in New York from September 12-14, 2022. The presentation is available on-demand. Virax is focused on innovative biotechnology solutions, particularly immunology profiling against viral diseases. The company is developing T-Cell Test technology for diagnosing and assessing immune risks related to COVID-19 and other viral threats like Monkeypox and Hepatitis B.

Virax Biolabs Group Limited (Nasdaq: VRAX), a biotech company focused on viral disease detection, announced that its CEO, James Foster, will present at H.C. Wainwright's 24th Annual Global Investment Conference from September 12-14, 2022, in New York, NY. The presentation will be available on-demand starting September 12 at 7:00 AM EST. Virax specializes in T-Cell Test technology for assessing immune risk profiles against major viral threats, including COVID-19 and Monkeypox. The company aims to enhance immunity profiling in viral disease management.

Virax Biolabs Group Limited (Nasdaq: VRAX) has launched its Monkeypox and Varicella-Zoster PCR Detection Kits, now available in Europe. This initiative follows the significant global Monkeypox outbreak, with over 6,000 confirmed cases as of July 4, 2022. The kits aim to provide rapid diagnosis of these viral infections, supporting timely treatment. CEO James Foster highlighted the importance of swift detection for public health, particularly in light of lessons learned from COVID-19. Virax continues to focus on innovative diagnostics, further expanding its product portfolio.

Virax Biolabs Group Limited (Nasdaq: VRAX) completed its initial public offering (IPO), trading began on the Nasdaq Capital Market on July 21, 2022. The IPO included 1,350,000 shares at $5.00 each, raising total gross proceeds of $6.75 million. Boustead Securities, LLC acted as the underwriter for this offering. The funds are expected to support the development of their proprietary T-Cell Test technology aimed at diagnosing viral diseases, particularly COVID-19 and other viral threats.