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Akers Biosciences jumps 15% after it picks up its first cholesterol test order

Tuesday, March 28, 2017 7:25
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(Before It's News)

Shares in Akers Biosciences Inc (NASDAQ:AKER LON:AKR) shot up 15% after it said it had won a first order for its rapid, over-the-counter cholesterol self-test.

First Check Diagnostics, the exclusive distributor in the US, will sell it under its “First Check” brand, through retailers such as CVS, Rite Aid, Target, Kmart and others.

The test estimates good cholesterol or High Density Lipoprotein (HDL)  levels and can differentiate this from a person’s Low Density Lipoprotein, their ‘bad cholesterol’, a distinction that is essential to make a truly effective screen test for dangerous levels of cholesterol Akers said.

Over 70mln people in the US are deemed as having high bad cholesterol, a major cause of heart disease and strokes.

The test uses a tiny blood sample and gives a result in only five minutes. Akers already has regulatory clearance in both the US and Europe. 

John J Gormally, Akers Bio chief executive, said he was delighted the product would be on the shelves of major US retailers under the distinguished First Check brand.

“It is a great endorsement of our rapid testing technology.”

1.45pm, the shares were changing hands for 135p, up 17.5p. 


Story by ProactiveInvestors


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