Penny Stock Ticks Higher On Deal To Develop Immune-Supportive Formula

Shares of actively-traded penny stock Guardion Health Sciences Inc (NASDAQ:GHSI) are advancing after the company announced an agreement for developing an immuno-supportive formula.

San Diego, California-based Guardion said a publicly-listed Malaysian company, going by the name Ho Wah Genting Berhad, has contracted Guardion and its recently-acquired subsidiary NutriGuard, to develop a proprietary formula to meet the demands of the Malaysian company's customers for an immune-supportive product.

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Mark McCarty, founder of NutriGuard and a leader in scientific validation of nutrition-based therapies for potentiating the type 1 interferon response to RNA viruses, would be tasked with developing this formula, Guardion said. The company clarified that the formula would provide immuno-supportive and anti-inflammatory benefits to its users but hasn't been tested yet or is intended to specifically address the symptoms of the current COVID-19 virus.

Guardion shares were rising 4.5% to 31 cents.