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Shares of Braveheart Investment (LON: BRH) are rallying after the company provided an update on progress to develop a COVID-19 test that Paraytec Limited is working on in conjunction with the University of Sheffield.
Braveheart said that in clinical analyses, over 120 patient nasopharyngeal swab samples have been successfully analysed using the Paraytec test, achieving 94% sensitivity and 100% specificity.
A key difference in the Paraytec test is its ability to distinguish between intact viral particles and residual RNA fragments, a cause for concern amongst some people as RNA fragments are present in the nose and throat and can yield a positive PCR test result for several weeks after peak viral load has passed.
“The Paraytec team has developed a new method to determine the proportion of RNA that is encapsulated within viral particles in clinical samples, compared with total RNA that includes non-infectious RNA fragments,” Braveheart said in a statement.
“This method will allow the team to refine its analysis of test performance for operational sensitivity,” the company added.
Braveheart is now in the process of engaging specialist consultants to identify and target an extensive range of commercial partners for the Paraytec technology.
Braveheart Investment's share price has climbed 11.63% to 48p so far in today's session, reaching highs of 53p earlier in the day.
Braveheart Investment 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 Braveheart Investment shares the best buy? Our stock market analysts regularly review the market and share their picks for high growth companies
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