Shares

Omega looks to appease shareholders as discussions ongoing with test partners

Omega Diagnostics has looked to appease shareholders with an update that shows some signs of progress but also confirmed that progress has not been as swift as anticipated.

The diagnostics specialist today revealed that it is taking longer than expected for the DHSC to select a suitable COVID-19 lateral flow antigen test to put through its production line, however they still remain in ‘regular dialogue’ and the supply of British produced tests remain a priority for the DHSC.

Eagle-eyed investors will also hope signs of a material contract award are nearing as Omega added that initial commercial discussions between itself and ‘potential partner companies’ for the production of lateral flow antigen tests have been initiated by the DHSC.

This news came as Omega revealed that it has received £2.5m in pre-production payments from the Government and is supporting it in various ways currently including with pouching services for other COVID-19 tests in circulation within the UK.

As the Omega Diagnostics share price fell by nearly 5 percent in early morning trading, CEO Colin King reaffirmed a view that the business is ready and waiting to produce whatever test the DHSC selects and in a great deal of volume:

“Whilst confirmation from the DHSC of which test to produce has taken longer than we had expected, we are confident that we have the capacity to produce significant volumes of tests once we receive the requisite confirmation from DHSC. Obviously as soon as this is confirmed we will update shareholders.”

Daily Movers

Let's Talk

Buying Abingdon Health shares - w …Great interview - thanks. Prospects look good and not definitely n … Read More
Holding or selling ODX shares? Pr …That update looks like it saved it up from 40p! Would look foolish … Read More
Does Aquis do RNS announcements£270 per announcement that's mad!??! Would definitely make se … Read More
Buying Tremor SharesNot the end of the world; £8 now so not the best short term gain Read More
BOTB share price target at £14 - …Haven't seen the report but suppose if they invest wisely and … Read More
Hey, profit awaits! Free Sharebuyers Newsletter

Receive hot tips you can profit from - only sent when it matters. Twitter: @ShareBuyers.