Trinity Biotech (NASDAQ:TRIB) shares are trading lower on Monday after the company's subsidiary Primus Corp announced it received an FDA warning letter following an inspection of Kansas City Manufacturing facility that took place in January.
Trinity Biotech is in the business of development, manufacture, and marketing of clinical diagnostic products for clinical laboratory and point of care sections of the diagnostic market. Its products are used to detect autoimmune, infectious, sexually transmitted diseases, diabetes, and disorders of the liver and intestine.
The company also provides raw materials to the life sciences and research industries globally. It markets products under the brand names Recombigen, Unigold, MarBlot, Mardx, Premier, Immublot, EZ, Capita and others. Geographically, it has two segments namely the Americas and Rest of World of which it derives a majority of its revenues from the Americas segment.
Trinity Biotech shares were trading down 7.02% at $2.12 on Monday at the time of publication. The stock has a 52-week high of $3.28 and a 52-week low of 56 cents.