Is Therma Bright (THRM) the long-term stock you are looking for?

Summary

  • After a trading halt imposed before the opening bell was removed, THRM stocks resumed trading on the TSXV on Thursday, July 22.
  • THRM stock has returned 1300 per cent in the past year.
  • As Therma Bright is expanding and developing testing kits for COVID-19, the company is expected to grow in future.

Stocks of Therma Bright Inc. (TSXV:THRM) resumed trading at opening bell on Thursday, July 22, after the Investment Industry Regulatory Organization of Canada (IIROC) had halted its trading before the markets opened in Canada.

Before the trading halt, Therma Bright stocks had closed at a value of C$ 0.34 on Wednesday.

The IIROC has a right to impose trading halts on publicly-traded companies in Canada. It is generally implemented to ensure fair trading in the country's equity markets. In addition, the national self-regulatory organization monitors investments deals and trading activity at various stock exchanges in the country.

Can Therma Bright provide long-term gains?

The healthcare and medical technology company primarily focuses on developing dermatological products. However, after the COVID-19 pandemic began, Therma Bright expanded its business operations and developed the AcuVid™ COVID-19 Rapid Antigen Saliva Test.

On Thursday, the Toronto-based company announced that its antigen saliva test now awaits approval from the US Food and Drug Administration (FDA) for emergency use authorization (EUA) review.

Therma Bright has announced that it has exceeded the minimum requirements for FDA-EUA review with a clinical study named Brazilian AcuVid™ Saliva / RT-PCR Test Clinical Study. The clinical study was based on 264 individuals, and their symptoms were studied for one to ten days.

The company claims that its results indicate that the test is easy to use and has better performance outcomes than other leading rapid antigen tests.

Should you invest in Therma Bright (TSXV:THRM)

Therma Bright stocks have declined by nine per cent in the past month. However, it is essential to note that THRM stock catapulted by 1300 per cent in the past year.

As of Wednesday, THRM stock was trading 1033 per cent more than its 52-week low of C$ 0.03 (July 15, 2020).

1-year chart of stock performance, relative strength index and moving average multiple of Therma Bright (Source: Refinitiv)

Since the past one week, THRM stock surged by 11.5 per cent. With the latest announcement, it could climb further in the next few days.

Therma Bright's cash and cash equivalents increased to C$ 2.1 million in the period ending April 30, 2021, as compared to C$ 1.1 million in the period ending July 31, 2020.

Stocks of Therma Bright Inc. (TSXV:THRM) resumed trading at opening bell on Thursday, July 22, after the Investment Industry Regulatory Organization of Canada (IIROC) had halted its trading before the markets opened in Canada.

Before the trading halt, Therma Bright stocks had closed at a value of C$ 0.34 on Wednesday.

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