Applied UV, Inc. (AUVI) stock announced today that its SteriLumen Lumicide™ Ribbon which is its proprietary connected UVC disinfection platform for surface disinfection can kill SARS-CoV-2 i.e., COVID-19 virus, after which the AUVI stock price saw a push of 8.53% today to reach $9.80 a share as of this writing. The stock was gloomy in the previous trading session and closed at $9.03 a share. Let’s check out more about AUVI stock.
What’s Happening?
The positive results of the theSteriLumen Lumicide™ Ribbon have made the AUVI stock bullish today. The study was performed at CUBRC’s non-for-profit testing laboratory in which two surface substrate materials stainless steel and ceramic were used. The purpose of the study was to evaluate the inactivation effect of SteriLumen Lumicide™ Ribbon against killing SARS-CoV-2 in the above-mentioned two materials at a single distance with two-timepoints.
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According to the results, the SteriLumen Lumicide™ Ribbon in the stainless steel showed inactivation of >3.04-log reduction when the exposure time was 5 minutes and >3.66-log reduction when the exposure time was 20 minutes. For ceramic material, the 5 minute exposure time showed >3.60-log reduction for viral inactivation and 20 minutes showed >4.43-log reduction.
Applied UV distributor agreement with Vietnam Distributor:
On June 03, 2021, AUVI stock did announce the exclusive distributor agreement with Viet My Instrument and Technology Joint Stock Company pursuant to which AUVI stock would distribute Airocide® consumer and commercial air purification systems in Vietnam. The distributor would purchase a minimum of 100 Consumer and 45 Commercial Airocide® systems within one year of the agreement.
Installation of Airocide Systems in MUNDUS VINI Award:
On June 02, 2021, AUVI stock reported that its Airocide™ System had been chosen for installation at the 28th Grand International Wine Award “MUNDUS VINI” 2021 event in order to protect the participants from harmful pathogens. The event was stretched to 20 days due to COVID-19 restrictions and 50 Airocide™ Systems were demanded for that event.
Financial View of AUVI stock:
In the first quarter of 2021 financial results, net sales for the AUVI stock were $2,312,615, representing a breathtaking increase of 157.1% over the year. Net loss for the AUVI stock reported $1,032,951 as compared to $78,377 net loss in the first three months of 2020. The increase in the net loss was due to increased SG&A costs for future operations.
Conclusion:
Investors are responding to the recent announcement by the AUVI stock. The management is now more confident in its SteriLumen system. The recent financial results were positive for Applied UV and point to the overall growth over the year.
