SONA saw a very slow bleed to $1.07 today but that didn’t stop this monster from regaining 29% to a high of day at 1.38. The stock is moving on a news release from British PM Boris Johnston that he plans to have testing and tracing scheme in play by June 1st. SONA works directly with Bond Digital Health who also work with the UK government. An excerpt that link reads:
“Since commercialisation, Bond’s award-winning technology has acquired global customers and partners including leading lateral flow test multinationals and USA and UK government departments.”
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In addition May 15th Trudeau announced provinces need more testing.
The June 1st date also lines up perfectly with #SONA’s previous news release mentioning their kit will be complete by “the end of May.” SONA is also a partner with GE Healthcare Sciences (GE) in the development of their kit. GE rebranded as “Cytiva” and recently entered into a partnership with Avacta. Today Avacta announced that it has formed a distribution agreement with Medusa19 (M19) for a rapid flow, saliva based antigen testing kit.
As a result we can see SONA will not only have access to the Canadian contracts but through it’s consortium of partners including Cytiva and Bond Digital will also have access to the US and the UK governments. Therefore we anticipate the announcement of the completion of SONA’s kit any day now between May 20th and June 1st. See our original article on SONA from two weeks ago here for more information on Canadian government grants, kit and contract pricing, and price target.
Disclosure: I have shares in SONA, I am not being compensated for this article from the companies mentioned.