Omega Diagnostics shares jump after positive Covid test data By Investing.com

By Samuel Indyk

Investing.com – Shares in AIM-listed Omega Diagnostics have rallied on Wednesday morning after “positive” data for its Mologix Covid-19 lateral flow antigen test.

Results from the 665-person study have been independently verified in Germany by FIND.

FIND is a not-for-profit, World Health Organization collaborating centre for laboratory strengthening and diagnostics technology evaluation, seeking to find diagnostic solutions to overcome diseases of poverty in lower- and middle-income countries.

The test was shown to have 100% specificity and 96.4% sensitivity (Cycle threshold lower than 25) compared with laboratory PCR testing.

“This is great news for the Mologic test,” said Omega Diagnostics (LON:ODX) CEO Colin King. “It is significant that the test has been shown to have high diagnostic accuracy on self-collected swab specimens.”

Omega has CE-Marked the Mologic lateral flow test for Covid-19 and has launched the test for professional use under the VISITECT brand.

At 09:20BST, shares in Omega Diagnostics were trading 4.9% higher at 72.87 pence per share.