The investigation focuses on whether Sona issued misleading and/or false statements and/or failed to disclose information pertinent to investors. On October 29, 2020 it was announced by Sona that its request for an emergency use authorization to market its rapid COVID-19 antigen test in the United States was denied by the FDA. On the same day, Sona’s shares fell 48%. On November 25, 2020, the withdrawal of “an Interim Order authorization from Health Canada for the marketing of its rapid, COVID-19 antigen test in order to obtain more clinical data to augment its submission” was announced by Sona. Shares of Sona fell by more than 67% on the same day based on this news.
Sona Nanotech, Inc.
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