Stock Alert: Astrotech Soars After Deal With Cleveland Clinic To Develop COVID-19 Breath Test

(RTTNews) - Shares of Astrotech Corp. (ASTC) surged over 160% on Wednesday morning after the company announced its unit BreathTech Corp. has teamed up with the Cleveland Clinic to develop a rapid breath test for COVID-19.

ASTC is currently trading at $4.41, up $2.75 or 165.66%, on the Nasdaq.

Astrotech' subsidiary, BreathTech has signed a joint development agreement with Cleveland Clinic to explore leveraging Astrotech's BreathTest-1000 mass spectrometer to rapidly screen for COVID-19 or related indicators.

The goal of the agreement is to develop a non-invasive device that will use breath samples to identify COVID-19 strains, with the potential to provide a low-cost, self-service screening option that could be deployed on a large-scale.