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Here’s Why Novacyt Share Price Surged 8.23% Today

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Updated: 31 August 2020

 

Shares of Novacyt (EPA: ALNOV) today surged 8.23% higher to trade at €3.68 after the pharmaceutical company launched a diagnostic test that can differentiate between COVID-19 and the flu.

The test is part of its Winterplex test which includes two gene targets specific to COVID-19, as well as gene targets for influenza A and B, and respiratory syncytial virus (RSV).

The tests were released just in time for the winter flu season when doctors will have to differentiate between the common cold and the coronavirus.

The new polymerase chain reaction (PCR) respiratory test can be used on any open PCR platform, including Novacyt’s portable Q32 instrument.

Graham Mullis, Novacyt’s Group CEO said: “Novacyt has established itself as a pioneer in COVID-19 diagnostics through the rapid development and success of its COVID-19 PCR test and the launch of Winterplex is another example of this innovative approach.”

Adding that:

“We believe Winterplex is one of the world’s first approved respiratory test panels that can differentiate between COVID-19 and other common respiratory diseases.”

Novacyt share price

Tradingview chart of Novacyt share price 31082020

Novacyt shares today surged 8.23% higher to trade at €3.68 having closed Friday’s session trading at €3.40.