The Zoono Group Ltd (ASX: ZNO) share price has surged over 7% this week, highlighting positive investor sentiment. Just yesterday, the company updated the market with an announcement which, at one point, sent the Zoono share price nearly 15% higher to $1.63. This was followed by a slight retrace today with the company's shares closing the week 7.38% higher at $1.60.
Let's take a look at what Zoono does and why its shares have surged higher this week.
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What does Zoono do?
Zoono is a global biotech company that develops, manufactures and distributes antimicrobial solutions. The company produces sprays, wipes and foams suited for skin care, surface sanitisation, and mould remediation treatments.
Zoono's products have been designed to work on any surface, killing pathogens such as bacteria, viruses, algae, fungi and mould.
What's moving the Zoono share price?
Investors have been driving the Zoono share price higher late this week after the company reported it received some positive test results from a series of independent laboratory tests in the United Kingdom.
The first number of trials was conducted on passenger trains servicing UK Rail. In total, 72 'hot' touch areas were tested across 23 trains for any presence of COVID-19, E.coli and staphylococcus. The 'hot points' within carriages and driver's cabs had been treated with Zoono's Microbe Shield between 8 and 30 days prior to testing.
The results were carried out by GTECH Strategies Limited in collaboration with an independent UKAS accredited test laboratory.
It found no detection of COVID-19 and E.coli in all 72 tests. However, 70 of 72 trials did not find staphylococcus, with 2 tests discovering an extremely low amount, being considered as 'near sterile'.
In the United Arab Emirates, Dubai Central Laboratory also carried out efficacy and durability tests. The experiment used Zoono Microbe Shield on steel, glass, plastics, tile and carpet with the objective to destroy all pathogens. The results confirmed a 99.9% efficacy against staphylococcus and E.coli. However, when used on wood and rubber, the outcome achieved was above 90% at 30 days.
In addition, trials were completed at Intertek, a global laboratory operating under GLP (the OECD Principles of Good Laboratory Practice). Additionally, Zoono Microbe Shield was found effective against E.coli, Pseudomonas, Staphylococcus, Enterococcus, Listeria and Salmonella.
Other developments
In other positive developments for the Zoono share price, the company advised it has commissioned tests of its alcohol-free hand sanitiser, GermFree24. The study for the hygienic hand rub was carried out in Poland by Lab-Test Laboratorium S.C.
Zoono said that all its products have been backed by over 100 laboratories worldwide proving their efficacy against pathogens. Furthermore, the company said it has helped protect communities from risk of infection through its products being used across buildings, vehicles, aircrafts, homes and hospitals.
