Bill Oxford Trinity Biotech ( NASDAQ: TRIB ) stock shot up 44% in post-market trading Monday after the diagnostics company increased its 2024 sales guidance and said it was ramping up manufacturing capacity. Trinity said that due to increased demand, it has expanded manufacturing capacity for its TrinScreen HIV test and raised its 2024 sales forecast for the product to $10M from $8M. The company has also increased manufacturing capacity for its FlexTrans viral transport medium due to an anticipated increase in demand as a result of the mpox outbreak, according to a statement .
The World Health Organization recently declared mpox, also known as monkeypox, a public health emergency of international concern amid the emergence of a more easily transmissible variant of the virus. Mpox vaccine developers include Tonix Pharmaceuticals ( TNXP ), Bavarian Nordic (OTCPK:BVNKF) (OTCPK:BVNRY) and GeoVax Labs ( GOVX ), while Emergent Biosciences ( EBS ) has an approved vaccine and treatment for smallpox, a related disease. Providers of mpox test products and services include LabCorp ( LH ), Quest Diagnostics ( DGX ), Co-Diagnostics ( CODX ), Roche (OTCQX:RHHBY), Abbott Laboratories ( ABT ) and Applied DNA Sciences ( APDN ).
More on Trinity Biotech Trinity Biotech plc (TRIB) Q2 2024 Earnings Call Transcript Historical earnings data for Trinity Biotech Financial information for Trinity Biotech.
