Why Shares of Quotient Limited Soared Friday

Shares of Quotient Limited (NASDAQ: QTNT) rose as high as 21% on Friday. The stock hits its 52-week low on Thursday at $2.32 per share before closing at $2.34. On Friday, it opened at $2.35 before climbing to as high as $2.85 in midday training. The stock has been volatile, climbing to as high as $7.59 in the past 52 weeks, though it is still down more than 47% this year.

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The blood diagnostics company announced that its MosaiQ Expanded Immunohematology (IH) blood test that tracks the levels of antigens and antibodies in the blood was beginning the review process in Europe. This is coming off successful field trials, the company said, in Europe for the IH microarray. The best news was that the company said it expects CE Mark approval by the end of the year, followed by the product's launch in the EU and other countries that accept the CE Mark, a total of roughly 40 countries, according to the company.

Source Fool.com