Hot stock: Biolidics nears four-month high; up 118.4% in early trade

SHARES of Catalist-listed Biolidics hit a four-month high on Wednesday (Oct 19) and was one of the most hotly traded counters by volume on the Singapore bourse.

The counter reached a high of S$0.083 as at 9.10 am on Wednesday, climbing 118.4 per cent or S$0.045. The last time the counter closed near this level was on Jun 24.

By 2.23 pm, Biolidics’ shares were trading 89.5 per cent or S$0.034 higher at S$0.072 with 25.5 million shares changing hands, making the medical technology company one of the most heavily traded counters. No married deals were recorded, according to ShareInvestor data.

Biolidics, a diagnostic solutions provider and pandemic beneficiary, saw its share price climb in 2020 after the company went into the production and distribution of Covid-19 test kits.

In August 2022, the company posted a net loss of S$2.3 million for the half year ended Jun 30, 2022, narrowing from a net loss of S$3 million in the year-ago period. Revenue was up 7.2 per cent to S$685,000 from S$639,000 the year before, mainly due to an increase in revenue from rendering laboratory services.