UNIVERSAL BIOSENSORS SHARES SURGE AFTER FDA APPROVAL

Written on the 5 October 2016

UNIVERSAL BIOSENSORS SHARES SURGE AFTER FDA APPROVAL UNIVERSAL Biosensors (ASX:UBI) is trading up 16.95 per cent today following the US Food and Drug Administration's approval of Siemens Healthineers' Xprecia Stride Coagulation Analyzer.

The hand-held device uses test strips developed and manufactured by UBI at its Rowville facility, in Victoria, to help monitor and assess patients taking the anticoagulation drug warfarin.

Warfarin is a blood thinner and its use must be monitored carefully, as too much of the drug can lead to uncontrolled bleeding, while too little can lead to a blood clot.

The worldwide point-of-care market for coagulation testing was estimated to be worth around US$1 billion in 2014 and is forecast to grow 9 per cent per annum to $US1.4 billion by 2018.

UBI executive chairman Andrew Denver says he is thrilled patients in the US will have access to this "exceptional" device.

"We look forward to working with Siemens to help establish its place in the US market," says Denver.

The Xprecia Stride analyser was commercially launched in Europe in May 2015.

Universal Biosensors released its results for the first half of 2016 in late July, and they showed a 41 per cent growth in revenue to $10.5 million compared to the previous corresponding period.

However, revenue from sales of the Xprecia Stride Coagulation Analyzer were down 56 per cent on the pcp.

The company gets most of its revenue from its partnership with LifeScan, for which it provides its One Touch Verio blood glucose test strips.

Overall, the company made a loss of $1.2 million in the first half of this year.



Latest News

ADELAIDE DIGITAL MARKETING GURUS CHANGING THE FACE OF ONLINE RETAILING

Frank Grasso, CEO of Adelaide based Dynamic Creative, believes his company's new software will revolutionise Adwo...

WHY A JUNIOR MINER DECIDED TO JOIN THE RANKS OF THE HOT POT STOCKS

USUALLY, when a relatively unknown explorer experiences a sharp spike in its share price, it means they've fou...

1700 BRISBANE APARTMENTS NOW MANAGED BY FORTUNE 500 COMPANY JLL

MULTINATIONAL and Fortune 500 company JLL (NYSE: JLL) has expanded its Australian dominance in the property managemen...

HARVEY NORMAN HITS OUT AT 'FALSE NEWS' OF ASIC INVESTIGATION

RETAIL giant Harvey Norman (ASX: HVN) has vehemently rejected reports its accounts are under investigation by ASIC, s...

Related News

RAY OF HOPE FOR SLATER AND GORDON AS LENDERS STEP IN

EMBATTLED law firm Slater and Gordon (ASX: SGH) has announced to the ASX that it has launched confidential discussion...

SPROUTX PROVIDES THE SEED FOR AGTECH STARTUPS

AGTECH innovation fund SproutX has opened applications for its first accelerator round, backed by $10 million from...

GAS PRICES MAY FORCE BRICKWORKS TO TAKE MANUFACTURING OVERSEAS

BRICKWORKS Limited (ASX:BKW) chairman Robert Millner says soaring energy prices may force the company to turn to offs...

CHINA CONTINUES TO COLLECT AUSSIE PROPERTY ASSETS

CHINESE coin continues to dominate Australia's offshore real estate investment market, accounting for almost h...

EVENTS COMING UP

 

Contact us

Email News Update Sign Up Contact Details
Subscriptions

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter