Sintx Technologies Inc. (NASDAQ: SINT) joined the list of COVID-19 stocks with a bang on Monday morning. Shares nearly tripled after the company announced a big win against the coronavirus in a controlled laboratory study.
In terms of the specifics, the SARS-CoV-2 virus was inactivated when exposed to Sintx’s sintered silicon nitride powder in a controlled laboratory study.
The company expects to share further additional data once these findings are published in a rapid-review forum.
Management was quick to note in the release that it is committed to the scientific integrity of its research and development programs and has invested heavily in the careful verification of its reported findings. Also, no representations are made as to the effectiveness of silicon nitride in consumer products, medical or otherwise.
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Again, management said that investors should be cautioned against making any assumptions based on the experimental results reported by Sintx. In a sense, management doesn’t want investors to get out over their skies because speculation around coronavirus stocks already has been incredible during this pandemic.
Dr. Sonny Bal, CEO of Sintx, noted that the preliminary results were encouraging. He went on to say, “The antiviral data are consistent with the well-established anti-bacterial properties of SINTX’s silicon nitride, and with previously reported effectiveness against several single-strand RNA viruses.” Bal concluded that, “Additional testing at independent, outside laboratories is in progress to corroborate the effectiveness of silicon nitride against SARS-CoV-2.”
Sintx Technologies stock traded up over 190% to $2.26 on Monday, in a 52-week range of $0.28 to $4.39. The consensus price target is $2.25.
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