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Shares of biotechnology firm Oxford BioDynamics (LON: OBD) are soaring on Tuesday after it said it has launched its EpiSwitch COVID-19 Severity Test (CST) in the US.
Oxford BioDynamics share price has gained over 61% so far, climbing to 112p per share.
The EpiSwitch test is a prognostic test that requires only a routine blood draw and predicts the risk of severe illness due to Covid-19 with an accuracy rate of 92%.
The AIM-listed company said it will be an essential tool in managing the uncertainty of daily life during the pandemic by identifying high-risk individuals and those who cannot be vaccinated, helping to assess risk and develop personal healthcare plans.
Oxford BioDynamics’ next test launch will be a predictive immune response profile for immuno-oncology checkpoint inhibitor treatments in 2021.
“Even with advanced national vaccination programs underway, millions of people (10 million in the US alone) remain exposed to the risk of severe Covid disease because they are immunocompromised/immunosuppressed or for other medical reasons cannot be vaccinated,” said Dr Jon Burrows, CEO of Oxford BioDynamics.
“Understanding their individual risk will enable them and their physicians to formulate a proactive healthcare plan, and ensure they take appropriate infection mitigation measures,” he added.
Oxford BioDynamics 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 Oxford BioDynamics shares the best buy? Our stock market analysts regularly review the market and share their picks for high growth companies
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