Biotech company Zoono Group (ASX: ZNO) has reported that its lab tests against COVID-19 have shown their hand sanitiser product to have more than 99.99% efficacy in deactivating the coronavirus pathogens.
Conducted under strict European testing standards, the tests conducted identified Zoono’s Z-71 Microbe Shield hand sanitiser to be effective against a variety of pathogens for up to 30 days on surfaces and 24 hours on hands.
Its surface sanitising effect was notable with existing research showing COVID-19 able to currently survive on surfaces for up to 9 days.
Two tests were conducted with the first against Vaccinia, sometimes referred to as the ‘mother ship’ of double enveloped viruses which can be particularly difficult to deactivate. The second was conducted against the surrogate for COVID-19, feline coronavirus.
Bost tests confirmed efficacy of more than 99.99% in deactivating the virus.
Prior to the global outbreak of COVID-19, Zoono had already developed a number of biotech cleaning products which were based on a unique antimicrobial molecule that bonds to any surface and kills pathogens including bacteria, viruses, algae and mould.
Amidst this global interest in Zoono over the past month, the Company has signed distribution agreements in Singapore with Linco and in China with Eagle Health and Youmeng Technology.
Since the Company confirmed they were testing their products against COVID-19 on 30 January, 2020, shares in Zoono have surged from 66c to reach an all-time high of $2.44 earlier this month.
Zoono, however, was not immune to the global market sell-off which saw their share price fall back down, however news of today’s successful lab tests have surged their share price back to an intra-day high of $2.08, a rise of 28.4% on their previous day’s close of $1.62.
As coronavirus news has spread through the months of January and February, Zoono has been one of the most traded stocks, with ZNO shares having traded at an average of 8.7m shares per day throughout February, compared to 3.1m in December and 2.2m in November.
Alfred Chan is an Analyst at Emerald Financial, specialising in ASX-listed small cap companies.
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