BARD1 Life Sciences Ltd (ASX: BD1) shares are rocketing higher again today following the company's latest positive report on its breast cancer testing technology. At the time of writing, the BARD1 share price is up 53.89% to $2.57.
At one point during morning trade, BARD1 shares reached $2.72, representing a new 52-week high for the company.
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What's causing the BARD1 share price to explode?
The BARD1 share price is going gangbusters this morning after the company reported additional data relating to its SubB2M technology from Griffith University shows 100% specificity and over 95% sensitivity for detection of all stages of breast cancer.
BARD1 stated it intends to develop and commercialise its blood tests to enable earlier detection of breast cancer, improving patients' treatment decisions and health outcomes.
According to Griffith University's Dr Lucy Shewell, the research also showed that SubB2M could potentially be used to monitor patients for disease recurrence. She stated:
SubB2M has the potential to be useful as a diagnostic marker for the detection of early-stage breast cancer, as well as a tool for monitoring disease progression in late-stage cancer.
And Griffith University's Professor Mike Jennings added:
The SubB2M technology has proved to have remarkable sensitivity and specificity for detection of these aberrant sugar biomarkers in blood for both breast and ovarian cancers.
Commenting on the latest findings, BARD1 CSO Dr Peter French said:
Whilst this data is preliminary, these excellent results reported by the researchers at Griffith University support the commercial potential of SubB2M for both breast and ovarian cancer monitoring and detection.
Last Thursday 11 February, BARD1 reported on the success of this same technology in detecting ovarian cancer. That announcement also saw the BARD1 share price surge.
And SubB2M may have even broader applications in the fight against cancer.
BARD1 CEO Dr Leearne Hinch said:
Our SubB2M technology is a revolutionary platform with potential for the development of tests for monitoring and detection of multiple cancers.
Foolish takeaway
The BARD1 share price has been on a tear over the past week. Including today's intraday gains, shares are up more than 300% since last Tuesday's opening bell. Year to date, the BARD1 share price is up by a similar percentage. For comparison, the All Ordinaries Index (ASX: XAO) is up 3% so far in 2021.
