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Cuprina Holdings (NASDAQ:CUPR) shares skyrocketed 278.92% in after-hours trading to $2.66 following the announcement of exclusive licensing rights to United Nations Industrial Development Organization and Global Environment Facility-validated medical waste recycling technology for Southeast Asia.
Check out the current price of CUPR stock here.
According to Benzinga Pro data, regular trading closed on Monday at $0.70, up 12.23% before the dramatic after-hours surge of $1.96. The biotech company’s market capitalization sits at $14.95 million, with a 52-week range between $0.61 and $9.50.
Singapore-based Cuprina secured exclusive licensing rights with China’s Zhejiang Heliang Technology Co., Ltd. for UNIDO and GEF demonstrated medical waste recycling technology. The license covers Singapore with expansion options into ten additional Southeast Asian countries.
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The technology uses high-temperature steam to sterilize medical waste and converts plastic materials into valuable resins and sustainable raw materials. This process eliminates toxic emissions caused by traditional incineration and helps address Singapore's limited landfill capacity.
Singapore’s biohazardous medical waste increased from 4,400 tons in 2016 to 5,700 tons in 2020, representing 5% annual growth.
Grand View Research reports the global medical waste management market was $34.06 billion in 2023 and is forecast to reach $59.42 billion by 2030, growing 8% annually, with Asia-Pacific growing the fastest.
“This isn’t just about new equipment—it’s about bringing in a globally validated technology,” said CEO David Quek Yong Qi.
Over the past month, Cuprina peaked at $9.40 on August 14 with a trading volume of 6.2 million shares. It hit a low of $0.63 on September 8, with volume dropping to 391,000 shares. The average daily trading volume stands at 2.18 million shares.
Benzinga’s Edge Stock Rankings indicate that CUPR has a negative price trend across all time frames. Here is how the stock fares on other parameters.
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Photo: Gumbariya on Shutterstock.com
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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