Iofina (LON:IOF) – iodine mouthwash getting strong test results
I note that Stephen Challacombe, one of the world’s leading experts on infection in the mouth and nose, believes that iodine could be used as an intriguing new weapon against coronavirus.
He is a professor of oral medicine at King’s College, London, specialising in the immunology of the mucous membranes.
Daily gargle against Covid-19
He claims that using iodine mouthwash can help to save lives.
Several tests have shown that after 15 seconds of contact with a weak solution of povidone-iodine it was successful in killing off 99.99% of the virus. Tests are now ongoing to see how long Covid-19 can be kept at bay.
Could a daily gargle become part of a self-help regime?
Specialists in iodine
And Iodine is what Iofina (LON:IOF) is all about. It is the second largest producer of Iodine in North America.
As specialists in the exploration and production of iodine and manufacturers of specialty chemical products could suddenly become a market ‘wonder stock’ – we have seen ‘spoof companies’ hit the roof before – and Iofina is certainly not a ‘spoof’ with a record iodine production expected to be reported by the group for 2020.
Commodity price going higher
Iodine prices have strengthened of late and the group has refinanced and reduced its debt – boss Dr Tom Becker recently stated that the group was in the strongest position it has ever been, both operationally and financially.
The group’s shares were trading at around 30p a year ago and that was before Covid-19. They fell to a low of 10.4p before gradually rising back up to 15p a few weeks ago.
Now at 13p the shares could well be ready for another run upwards shortly. It announced a Trading Update in mid-December last year.
(Profile 29.07.20 @ 13.5p set a Target Price of 18p)