Bought SONA on pullback at .67 - .70 to take advantage of the Coronavirus scare. Solid product/partnership with GE. Solid NR but currently caught up in market wide panic. Expecting a rebound.
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"When completed, Sona’s Covid-19 test is expected to produce results in 5-15 minutes and is anticipated to cost less than $50. It will not require any additional laboratory-based equipment and can be administered by a layperson at the point of care."
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Bull Flag setup could see a $1.30 hit on bullish breakout. For a stop loss, I'd look around .58 Fib level / bottom of the flag.
I believe it's a great development and investors will definitely do well here.
wealth_bakery
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Major news: Sona Achieves Significant Milestone in Covid-19 Test Development
Halifax, Nova Scotia--(Newsfile Corp. - March 19, 2020) - Sona Nanotech Inc. (CSE: SONA) (OTC PINK: LMTCF) ("Sona") is pleased to provide an update on the development of its rapid-response Covid-19 test. Sona is leading a consortium of diagnostic test developers including GE Healthcare Life Sciences, to create a rapid-response, lateral flow test that will directly identify the Covid-19 virus and provide in-field test results in minutes, without the use of specialized laboratory equipment or technicians.
Sona is pleased to report its consortium has achieved a significant milestone in its test development programme by generating an active conjugate which produces a signal when exposed to Covid-19 viral antigens. With the achievement of the positive identification of the viral antigens, the consortium has now commenced development of a functional prototype of the rapid-response test. Sona expects its Covid-19 test to benefit from reduced regulatory and field-testing requirements as announced by several regulatory agencies including in the United States' FDA.
Sona's Covid-19 test will offer a unique advantage over other lateral flow tests as it detects the presence of the Covid-19 virus. To date, the only competitive lateral flow tests that have been announced for sale are serological assay tests, which are designed to identify IgM and IgG antibodies present post infection. Serological tests are susceptible to producing false positive and false negative results if a patient is suffering from any one of a variety of unrelated infections (I.e. ear or tooth infection, regular flu, etc.). Sona's test is being developed to indicate a positive result only when the Covid-19 virus is present, allowing for direct and clear interpretation. (For more information on the unique advantages of Sona Covid-19 test over serological tests, see our previous new release dated March 12, 2020).
Sona has been approached by and is currently in discussions with health departments of several countries regarding the provision of rapid-response test kits. Simultaneously the company is advancing discussions with manufacturers in several countries in order to facilitate production protocols reflective of their country's regulatory compliance regime, many of which have been reduced. Some countries are expected to allow manufacturers to move immediately from prototype to sale.
Sona will provide further updates on its rapid-response Covid-19 test as warranted. Sona's Covid-19 rapid-response test development consortium include GE Healthcare Life Sciences, The Native Antigen Company, Bond Digital Health and scientific advisors Fiona Marshall and Sandy Morrison.
wealth_bakery
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A pretty important development today for SONA.C: FDA to Allow Private Companies to Market Coronavirus Test Kits Without Prior Approval
MarkBrathwaite
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@wealth_bakery, when do you expect the rebond on Sona to happen