Shares of Astrotech Corp. (ASTC) were rocketed about 6-fold (up 496%) on very heavy volume in morning trading Wednesday, after the company said it was developing a breath test that could screen for lung infections, incoluding the COVID-19 virus. Trading volume was 23.3 million shares, compared with the full-day average of about 21,600 shares over the past 30 days. The stock had closed at a record low of $1.09 on Friday. The company's BreathTest-1000 is now under development; in June 2017, the company had announced "positive" results from preclinical trials of its BreathDetect-1000 bedside breathalyzer that detects bacterial infections in the respiratory tract, including pneumonia. Subject to regulatory approvals, the company plans to combine the detection of COVID-19 withthe detection of pneumonia into the BreathTest-1000. The stock has now rallied 76% over the past 12 months, while the S&P 500 has lost 12.3%.
-Tomi Kilgore; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
March 25, 2020 11:03 ET (15:03 GMT)
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