Wild swings in Biolidics' shares after news of Covid-19 test kit deal

Singapore

SHARES of Biolidics rapidly lost the bulk of their gains accumulated from recent days, after the medtech firm announced that Nasdaq-listed Aytu Bioscience will be the exclusive distributor of its Covid-19 rapid test kit in the United States.

The frenzied trading kicked off at 3.30pm on Thursday once Biolidics' trading halt was lifted, and proceeded to set off the Singapore Exchange's (SGX) circuit breaker at least once in the final hour of trading.