Grifols (NASDAQ: GRFS) is heading up early on this morning, and for good reason. The copany announced that its system has been approved by the FDA. Of course, the news excited investors, sending the stock upward. Today, we’ll talk about:
- The approval;
- what we’re seeing from GRFS stock as a result; and
- what we’ll be watching for ahead.
GRFS Announces FDA Approval
As mentioned above, Grifols is having a good start to the trading session this morning after announcing an FDA approval. In a press release issued about an hour ago, the company announced that the United States Food and Drug Administration has approved Erytra Eflexis. The system is a fully automated, benchtop analyzer that performs pretransfusion compatibility testing using DG Gel technology.
In the release, GRFS said that the system expands its portfolio sf blood typing solutions and can be used as a stand-alone system or in combination with the company’s other blood typing portfolio solutions. Ultimately, the system facilitates multiple lab configurations and is easy to use, requiring minimal lab tech interaction.
In a statement, Carsten Schroeder, President of the Commercial Diagnostic Division at GRFS, had the following to offer:
Grifols’ dedication to developing and distributing improved diagnostic solutions has been exceptionally successful this year… Erytra Eflexis marks our seventh FDA diagnostic approval so far in 2018, and it’s the third approval for our expanding blood typing portfolio. And, feedback from the European medical community continues to be positive since receiving the CE Mark in June 2017.
What We’re Seeing From The Stock
One of the first lessons that we learn when we start to work in the market is that the news leads to moves. When it comes to Grifols, the news proved to be positive. After all, FDA approval means that the company can now market the blood typing system in the United States, opening the door to potential revenue from the world’s largest economy. So, it’s not surprising to see that excited investors are pushing the stock on a run in the market this morning. As is normally the case, our partners at Trade Ideas were the first to alert us to the gains. Currently (8:55), GRFS is trading at $19.20 per share after a gain of $0.27 per share or 1.43% thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the iWatch Markets team will continue to keep a close eye on GRFS. In particular, we’re interested in following the story surrounding the approval of its Erytra Eflexis system in the United States and the revenue that the news leads to. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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