Mainz Biomed Announces Reverse Stock Split Soon After Collaborating With MedTech Giant Thermo Fisher Scientific

Core Viewpoint - Mainz Biomed N.V. announced a 1-for-40 reverse stock split effective December 3, focusing on early cancer detection, particularly colorectal cancer [1] Group 1: Collaboration and Product Development - Mainz Biomed entered a collaborative agreement with Thermo Fisher Scientific to jointly develop and commercialize a next-generation colorectal cancer screening product [1][2] - The collaboration will utilize Thermo Fisher's technologies to create proprietary assays for mRNA-based colorectal cancer screening tests [2] - The goal is to develop a home collection colorectal screening tool that effectively detects adenomas [3] Group 2: Financial Performance - In October, Mainz Biomed reported a 4% increase in revenue and a 32% decrease in operational losses for the first half of 2024, attributed to cost-reduction efforts [3] Group 3: Product Enhancements - Significant improvements were made to the ColoAlert product, which is available in Europe and select international markets [4] - The new proprietary buffer in ColoAlert reduces the need for additional sample submissions, speeding up result delivery [4] - ColoAlert now boasts the industry's lowest retesting rates, with screening outcomes delivered within two to three days of laboratory arrival [5] Group 4: Stock Performance - As of the publication date, MYNZ stock is down 13.09%, trading at $6.93 [6]