Novacyt to present long-term growth plans in Q2

Clinical diagnostics specialist Novacyt has announced that it will be presenting its long-term growth plans to shareholders during the second quarter of this year.

In a research and development today, the company shown no signs of easing up on the immediate COVID-19 testing opportunity but repeatedly noted that it was also looking to the future in parallel.

The update today confirmed that the expansion of its COVID-19 testing portfolio includes:

  • Expansion of the SNPsig portfolio to detect new SARS-CoV-2 variants of concern, including a specific variant prevalent in the US
  • Launch of CE Mark COVID-HT Direct, a next generation direct-to-PCR SARS-CoV-2 test for high-throughput laboratories
  • Development of the COVID-19 antibody lateral flow test
  • Development of the loop-mediated isothermal amplification COVID-19 test
  • Development of an innovative assay panel for the detection of aspergillus, a respiratory fungal infection associated with co-infection risk in patients with COVID-19
  • Development of a two-gene target PROmate™ test to address markets employing this testing approach

Commenting on the expansion of the testing portfolio and its plans for the future was Novacyt CEO Graham Mullis:

“Novacyt remains focused on leveraging its innovative reputation and position in the rapidly changing COVID-19 testing market to continue to deliver value and support clinicians and laboratories in a global setting. Of note, following its launch, our PROmate™ test has been well received by users and opens up new opportunities for rapid PCR testing, including in private testing markets. In addition, we look forward to presenting exciting long-term plans for Novacyt during Q2 this year as we continue to define our strategy for delivering sustainable, long-term growth.”

Shares in Novacyt are currently trading at £7.

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