Virax Biolabs' Investigational Diagnostic Tests Has An Attractive Market Opportunity', Analyst Initiates With Buy Rating

Core Insights - H.C. Wainwright has initiated coverage on Virax Biolabs Group Limited, a U.K.-based company focused on immune response detection and viral disease diagnosis [1] - The company is developing T cell-based test technologies aimed at providing an immunology profiling platform, particularly effective for diagnosing post-viral syndromes like Long COVID [1][2] Company Overview - Virax Biolabs is working on the ViraxImmune platform, which will initially be available for research use only before seeking in vitro diagnostics (IVD) approval [3] - The platform utilizes peptide pools to activate memory T cells and measure specific cytokine profiles, addressing various diseases and research needs [2] Market Opportunity - Analyst Yi Chen estimates that between 254,000 and 301,000 patients annually could benefit from Virax's T cell exhaustion-based IVD [4] - The diagnostics market for long COVID cases alone could be worth hundreds of millions of dollars, with no reliable tests currently available for conditions linked to post-acute infection syndrome (PAIS) [4] Clinical Development - Virax Biolabs has begun enrolling patients in a multi-center clinical study in the U.K. to assess the performance of the ViraxImmune FluoroSpot T cell assay in detecting T cell dysfunction in post-acute infection syndrome patients [5] - The study aims to enroll up to 200 participants, with initial data expected in Q2 2026 [5] Analyst Rating - H.C. Wainwright has given Virax a Buy rating with a price target of $3 [4] - The stock is currently trading flat at $1.16 [6]