Why the Zoono (ASX:ZNO) share price surged 7% this week

The Zoono Group Ltd (ASX: ZNO) share price has surged over 7% this week, highlighting positive investor sentiment. Here's why…

| More on:
asx share price rise from COVID-19 represented by the word virus and little green germ characters

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

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.

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.

Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Share Market News

Ten happy friends leaping in the air outdoors.
Share Gainers

Here are the top 10 ASX 200 shares today

Investors started the week off in a good mood today.

Read more »

A cute young girl with curly hair sips a glass of milk through a straw with a smile on her face.
Broker Notes

Up 37% this year, why Macquarie expects A2 Milk shares to keep outperforming

Macquarie remains bullish on A2 Milk shares heading into 2026. Let’s see why.

Read more »

Woman and man calculating a dividend yield.
Share Market News

Big week for markets: Here's what to watch

Tech earnings, rate speculation, and Aussie inflation data could shake markets this week — but long-term investors should keep their…

Read more »

ASX shares Business man marking buy on board and underlining it
Broker Notes

Leading brokers name 3 ASX shares to buy today

Here's why brokers believe that now could be the time to snap up these shares.

Read more »

dissapointed man at falling share price
Share Fallers

Why Boss Energy, Elsight, Pilbara Minerals, and Whitehaven Coal shares are falling today

These shares are starting the week in the red. But why?

Read more »

An older female ASX investor holds a gangster-style fist pump pose showing off gold rings with dollar signs on them.
Broker Notes

Why Macquarie forecasts Northern Star shares are set to surge 55%

Macquarie believes Northern Star shares are well-placed to rocket higher.

Read more »

A group of people gathered around a laptop computer with various expressions of interest, concern and surprise on their faces. All are wearing glasses.
Share Market News

ASX 200 tech stock near record high, is it still a buy?

This company's soaring share price and rising profits are turning heads.

Read more »

Excited couple celebrating success while looking at smartphone.
Share Gainers

Why Bellevue Gold, Bubs, Clarity Pharmaceuticals, and Regal Partners shares are rising today

These shares are starting the week on a positive note.

Read more »