Novacyt: stock hit as Covid test launch delayed
(CercleFinance.com) - Novacyt shares are down about 4% on Thursday following a research and development (R&D) update in which saw the clinical diagnostics specialist confirmed a delay in the launch of its PathFlow Covid-19 Rapid Antigen, its lateral flow test (LFT) for SARS-CoV-2 antigens, which was originally expected in Q3.
Novacyt attributes the delay to an increase in demand for self-testing approvals, which caused a delay in testing by the company's notified body.
With a delay of up to six months likely, Novacyt now says it is assessing other approval options for its self-test.
The PathFlow SARS-CoV-2 SMART IgG LFT - which was scheduled for launch in the third quarter - has also delayed due to the inability of a partner to ensure sufficient supply.
Again, Novacyt says it is evaluating other options for detecting and differentiating IgG antibodies to the virus.
On a more positive note, Novacyt confirms the marketing of a new test to differentiate Covid-19 from common winter viruses and another test to diagnose four major variants of the virus.
Copyright (c) 2021 CercleFinance.com. All rights reserved.
Novacyt attributes the delay to an increase in demand for self-testing approvals, which caused a delay in testing by the company's notified body.
With a delay of up to six months likely, Novacyt now says it is assessing other approval options for its self-test.
The PathFlow SARS-CoV-2 SMART IgG LFT - which was scheduled for launch in the third quarter - has also delayed due to the inability of a partner to ensure sufficient supply.
Again, Novacyt says it is evaluating other options for detecting and differentiating IgG antibodies to the virus.
On a more positive note, Novacyt confirms the marketing of a new test to differentiate Covid-19 from common winter viruses and another test to diagnose four major variants of the virus.
Copyright (c) 2021 CercleFinance.com. All rights reserved.