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Omega Diagnostics Share Price Surges After COVID-19 Self-Test Study Update

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Updated: 07 September 2020

Omega Diagnostics (LON: ODX) share price has skyrocketed in Monday trading after the company released an update regarding its COVID-19 self-test…

The company announced that its study for the home coronavirus antibody test kit, the AbC-19 Rapid, has concluded.

They stated that the study was performed by Ulster University using around 2,000 volunteers and was completed over the weekend.

The test has already obtained a CE mark, meaning it is available for professional use in the UK and EU and is open to commercial distributors.

Omega stated that it is on track to produce 100,000 tests per week this month and is hoping to scale that up to 200,000 tests per week in October, while also having the ability to scale up further if UK demand exceeded 200,000 tests.

“We're very pleased that the self-test usability study has completed and that we are progressing towards our goal of MHRA approval for self-test home use. We cannot give a timescale for when this might be achieved but we look forward to updating shareholders on further developments,” said Colin King, CEO of Omega Diagnostics.

Omega share price…

Source: TradingView

The company's shares jumped higher after the news with its price currently trading at 70p per share, up 30% at the time of this publication.