TyraTech enjoyed a bounce after announcing its new insect repellent had been granted registration in the US, leaving it just one step short of being on the shelves.
The firm's personal insect repellent 'NO-SKEETO!' now has registration in 49 States and the District of Columbia.
This news means the product is approved and ready for immediate sale in retail channels, and caused shares to jump 9.5%.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
The company is now in the process of evaluating global commercial and retail partners for the product.
It has also filed for patent protection for its NO-SKEETO! formulation and has submitted data from laboratory and field trials for publication in two international journals.
TyraTech's Vice President of Research & Development, Dr. Keith Kennedy, said diseases transmitted by mosquitoes and ticks continued to be an increasing problem in North America.
'The number of West Nile Virus cases reported in the US so far this year was the highest number recorded by the Centers for Disease Control in the last 10 years," he said.
"The incidence of Lyme disease continues to exceed more than 30,000 cases per year."
-
8 of the best houses for sale with annexesThe best houses with annexes – from a period property in the Lake District to a 13th-century house with a two-bedroom annexe in Saltwood, Kent
-
Zelenskyy moves to appease Donald Trump – what happens now?Ukraine’s president Volodymyr Zelenskyy is conceding ground to secure the least-worst deal possible, says Emily Hohler
