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Novacyt shares jump after launch of new COVID-19 testing products

Published 18/06/2020, 07:33

By Sudip Kar-Gupta

PARIS (Reuters) - Healthcare and clinical diagnostics company Novacyt (PA:ALNOV) (L:NCYT), whose shares have surged on the back of its COVID-19 testing products, on Thursday announced the launch of three new products to support testing for the presence of the virus.

The names of the new products are Exsig™ Direct, Exsig™ Mag and COVID-HT, Novacyt said.

The announcement of Novacyt's latest COVID-19 testing products pushed the company's Paris-listed shares up by around 10% by 0710 GMT, with the stock having jumped by around 1,600% since the start of 2020.

"As we continue to supply our COVID-19 test to laboratories around the world, we are delighted to provide further support through the launch of these new products," CEO Graham Mullis said.

Novacyt has singled itself out with a test able to detect the new coronavirus in less than two hours. Standard testing, which also identifies other strains, takes up to a day.

Latest comments

test in less than 2hours is nothing! Biolidics test kits only takes 10mins! whats the hype all about?😆
Great news for potential covid testing and for the company!
This is going to be massive. This uses test machines most hospitals have, huge amount of tests at once and its so quick. I can see the UK government all over this. This is leaps ahead of the competition and already CE marked. Well done to the team. Going to take a few days for people to really understand what a groundbreaking technology this is and how it will change the landscape of testing. No costly chemicals needed. The Technology is all approved and ready to go and builds on their already gold standard of a test that is being sold. This company had distribution in 130 countries. Going to be huge iMHO
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