Omega Diagnostics (LON: ODX) shares are trading over 3% higher on Tuesday after the company said it has signed a contract with Screen4 Ltd to provide a testing service using the Mologic ELISA antibody test for Covid-19 from its in-house testing laboratory in Littleport, Cambridgeshire.
The contract is for an initial term of three years and follows the Covid-19 antibody testing service launch, which was announced on the 26th of January.
Screen4 is a UK-approved provider of Covid-19 testing services and diagnostic testing services to the aviation, petrochemical, occupational health, and consumer markets in the UK, Middle East, and the Far East regions.
Colin King, CEO of Omega, stated that the company is “pleased to be working with Screen4 as our first customer. Screen4 provide a synergistic approach involving health assessment and patient support to their clients.”
David Grouse, Managing Director of Screen4, said: “Omega are at the forefront in the development of vital testing technologies to help fight the Covid-19 virus.”
“The simple, usable nature of this product, particularly with regards to a properly CE marked self-collection sample kit for Home Use, is a major step forward in helping people understand their current status with regards to the virus,” Grouse added.
Omega’s shares are currently trading at 93p, up over 3% on Tuesday morning.
Should you invest in Omega Diagnostics shares? Omega Diagnostics shares are traded on the AIM market of the London stock exchange (the alternative investment market) which is the sub market 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 Omega shares the best buy? Our stock market analysts regularly review the market and share their picks for high growth companies
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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.