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Yourgene Health Rallies On DHSC Contract Win

Sam Boughedda trader
Updated 23 Dec 2021

Yourgene Health (LON: YGEN) — the molecular diagnostics company — said Thursday that it has been awarded a contract by the Department of Health & Social Care (DHSC). 

The contract is to provide laboratory capacity to support the “winter surge” Covid-19 testing in light of the Omicron variant.

This is Yourgene's third DHSC contract this year under the Public Health England National Microbiology Framework Agreement

The prior two awards were for Covid-19 PCR surge testing, which was announced on August 19, and the latest UKHSA sequencing contract, which was announced on December 14.

Lyn Rees, Chief Executive Officer, commented: “This is another strong endorsement of our progress and we are pleased to be able to support the nation's COVID testing effort. Actual value for this contract will depend on the services purchased, with no committed spend at this moment in time, but we look forward to updating shareholders on the progress over time.” 

Yourgene Health shares are currently up just under 9% to 13.35p, hitting a high of 13.58p at the start of the session.

Should you invest in Yourgene Health shares?

Yourgene Health 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 YGEN shares the best buy? Our stock market analysts regularly review the market and share their picks for high growth companies

Sam is a trader and lead stock market writer at AskTraders. After starting his career in the forex market, Sam now focuses on stocks, specifically consumer staples.