Medigus Ltd (NASDAQ:MDGS) Stock Sees Bullish Action: Still a Good Buy?
Medigus Ltd (NASDAQ:MDGS) jumped 27%. The company announced that privately held Polyrizon Ltd., in which it holds a 33.24% stake, has released preclinical data from a previously announced study demonstrating that its novel tech can reduce the infection risk with human coronavirus and prevent COVID-19.
It is vital to note that Polyrizon focuses on developing innovative tech that prevents virus and allergens intrusion through eye cavities and upper airways. The company’s tech comprises highly differentiated bio-gel that can protect against external pathogens and biological threats. The gel can be applied topically and has been formulated for dry and wet administration.
Polyrizon conducted a cell-culture study in Israel whereby several formulations were tested for the bio-gel. Data from the study indicated that the mechanism of the novel product is dose-dependent and can efficiently reduce cell infection from the human coronavirus 229E strain. In addition, the preclinical data show the impact the product can have on protection against SARS-CoV-2. So, in the coming weeks, MDGS is a stock to watch.
Market Reaction:
On Friday, MDGS stock soared 28% at $1.92 with more than 151.80 million shares, compared to its average volume of 2.75 million shares. The stock has moved within a range of $1.6700 – 2.4500 after opening the trade at $1.85. Over the past 52-week, the stock has been trading within a range of $1.2200 – 4.1900.
