Sam is a professional trader and the lead stock market news writer at AskTraders. After starting his career in the forex market, Sam now focuses on gold and stocks with a preference for fundamental and macroeconomic analysis.
Avacta Group (LON: AVCT) said on Wednesday that shipment of its AffiDX® SARS-CoV-2 antigen lateral flow test has now commenced.
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.
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.
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