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ODX share price surges as UK RTC highlights importance of rapid COVID-19 antibody test in supporting vaccines

The Omega Diagnostics share price surged by 16 percent today after UK Rapid Test Consortium partner Abingdon Health clearly highlighted the importance that the rapid COVID-19 antibody test could have in supporting vaccines as well as reducing the strain on lab-based testing.

In a new brochure today which talked through the science of the COVID-19 rapid test, there were some important points highlighted from a commercial perspective that show likely sustained demand for the test, even when a vaccine arrives.

Here's the best bits that we've picked out from the brochure:

  • Results are simple and easy to understand - positive or negative and are accurate.
  • There are no logistical headaches - workflow is minimal because samples are not needed to be stored, transported or analysed in a lab.
  • This COVID-19 rapid test can play an 'instrumental role' in assessing initial immune responses from vaccines - particularly important as there are a number of COVID-19 vaccines preparing to move into phase 3 trials.
  • In areas where there is limited testing available - these tests could play a 'vital role' in tracking seroprevalence.
  • It can contribute to important data needed to support scientific research and health policy - removing the bottleneck of laboratory testing limits which limits the amount of data available on the virus.

Investors appear to have very positive to the news as shares have bounced back to 80p.

Recently, Omega Diagnostics noted that there was plenty of news flow to come in the pipeline including an MHRA approval and orders.

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