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Omega Diagnostics (ODX) Shares Climb on Positive Covid-19 Lateral Flow Test Data

Updated: 1 Jun 2021

Shares of Omega Diagnostics (LON: ODX) are rising on Tuesday after a manuscript entitled: “Accuracy of the Mologic COVID-19 rapid antigen test: a prospective multi-centre analytical and clinical evaluation” was released, providing positive data on Mologic's Covid-19 lateral flow antigen test.

The study stated that the Mologic test, which has been commercialised by Omega as the VISITECT COVID-19 Antigen test, has met the WHO target diagnostic accuracy with a sensitivity of 93.2%-98.4% detecting individuals with high viral load infections.

The test was evaluated in a multi-centre study across the UK with 347 participants.

The test's diagnostic accuracy and clinical performance were investigated by comparing it to gold-standard RT-PCR results from individuals with and without COVID-19 symptoms.

Sensitivity was shown to be high in individuals with the highest viral loads. Overall sensitivity and specificity compared to the reference SARS-CoV-2 RT-PCR was 85.0% and 97.8%, respectively.

The study also said that the Mologic test replicated diagnostic accuracy in various settings necessary for COVID-19 control, including hospitals, ambulatory services, and drive-through centres, along with self-collected swab specimens.

Colin King, CEO of Omega, commented: “This is great news for the Mologic test, which we are now producing under our VISITECT® brand. It is significant that the test has been shown to have high diagnostic accuracy, but also that this performance is replicated across multiple different settings, different demographics, and on self-collected swab specimens.

“Rapid diagnostic tests play a crucial role in breaking the spread of infection in the community and we are delighted to be a leading manufacturer of these home-grown tests.”

Omega Diagnostics' share price is currently trading over 1% above Friday's close at 66.75p.

Should you invest in Omega Diagnostics shares?

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