Trinity shares soar over green light for HIV test

SHARES in Trinity Biotech soared by nearly 15% yesterday after it received approval from the US drug regulator to sell a new test for HIV.

Trinity is already selling the Uni-Gold product in Africa and Asia and the approval by the US Food & Drug Administration is a major boost.

The test, which gives the result of a blood test in 10 minutes, was approved for the detection of antibodies to HIV in human serum, plasma, venous and finger stick whole blood.

A finger-stick whole blood sample is normally a drop of blood taken from the finger or thumb, and it said this was the simplest and most rapid procedure for producing a sample for HIV testing. Shares in Trinity, traded mainly on the US Nasdaq exchange, were up 40 cents at $3.15 at midday in New York, valuing the firm at $125 million

Trinity Biotech chief executive Ronan Ó Caoimh said: “this latest approval means that our Uni-Gold HIV test can be used in all significant segments of the US market. This includes hospitals, reference laboratories, physicians’ offices, STD clinics and community based organisations.”

Last month, Trinity announced second-quarter profits were down 50% at $1.2 million on revenues of $20.1 million.

Brokers were enthusiastic about yesterday’s announcement and said the shares in Trinity Biotech should improve.