new-recommended-broker-banner new-recommended-broker-banner
Practice Stock Trading Your Capitals Is At Risk

Avacta’s (AVCT) AffiDX Covid-19 Lateral Flow Tests Begin Shipment, Shares Down

Updated: 13 Aug 2021

Avacta Group (LON: AVCT) said on Wednesday that shipment of its AffiDX® SARS-CoV-2 antigen lateral flow test has now commenced.

new-recommended-broker-banner

The test is a 20-minute antigen test using nasal swabbing that is CE marked for professional use in the UK and EU. It has 99% specificity.

Avacta said the test has also been shown to detect all the virus's significant variants, including the delta variant.

Avacta Group Price Forecast

The company recently appointed Calibre Scientific as the first distributor for the test in the UK and European Union and is progressing multiple commercial opportunities with distributors and end-users in Europe, the UK, Asia, and elsewhere.

Dr Alastair Smith, CEO of Avacta Group, commented: “I am delighted that shipment of the AffiDX SARS-CoV-2 antigen lateral flow test has commenced. The excellent clinical performance and ease of nasal sampling, coupled with the fact that the AffiDX® antigen test has been developed in the UK, and is based on UK technology and manufactured in the UK, are major points of differentiation.

“Manufacturing scale up continues to progress well and we remain focused on the challenge of being able to supply the clear demand in the market.

“We continue to see significant levels of commercial interest from around the world and are progressing a number of opportunities in a range of sectors.”

Avacta's share price is down 0.96% despite the seemingly positive news, trading at 129.3p per share.

Should you invest in Avacta shares?

Avacta shares are traded on the London stock exchange's AIM market (the alternative investment market), which is the submarket specifically for smaller companies. AIM stocks are attractive to investors as they have tax advantages and smaller companies have the potential to benefit from rapid growth. But are Avacta shares the best buy? Our stock market analysts regularly review the market and share their picks for high growth companies

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage . 75 % of retail investor accounts lose money when trading CFDs with this provider . You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money .