Drug Companies Take Spotlight in Fight Against COVID-19

Drug Companies Take Spotlight in Fight Against COVID-19

By: Dylan Sikes – AllPennyStocks.com News

Tuesday, March 24, 2020

The radical steps proposed by governments at all levels to keep the spread of COVID-19 as low as possible has proven a bonanza for some companies in North America, by catering to those buyers who must not break the threshold of their front door. 

New York-based Genesys Industries, Inc (OTC:GEIN), a diversified precision products manufacturer announced today that in the event a Stay-at-Home Mandate is issued due to the COVID-19 virus, Genesys Industries has been issued a stay-at-home exemption as a supplier of critical components for the medical industry. 

Such exemptions issued are for companies deemed to be Life Sustaining Businesses, which includes Medical Equipment and Supplies Manufacturing. Stay-At-Home Exemptions are issued to businesses and their employees if they are necessary for the production of essential supplies needed during the outbreak.

Genesys Industries is a U.S. manufacturer with administrative and production facilities located in Florida and Missouri.

While GEIN only traded in 100 shares Tuesday, those shares climbed all the way up to the closing bell, triumphing 51 cents, or more than 728%, to 58 cents.  

North of the border, there’s Toronto-headquartered Arch Biopartners, which Tuesday (TSX-Venture:ARCH) announced it has filed a new provisional patent application with the U.S. Patent and Trademark, to protect new drug candidates that reduce lung inflammation.

The application protects compositions and the method of use for novel drug molecules designed to inhibit lung inflammation in the context of bacterial and viral pneumonia. 

In the absence of a vaccine to prevent COVID-19 infection, a treatment to manage the lung inflammation experienced in the most severe cases can reduce the numbers of people admitted to intensive care units and the demand for hospital ventilators.

ARCH shares traveled seven cents higher, or 8.8%, to 87 cents, on volume topping 78,000 shares. 

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