UK regulator approves Novacyt Covid-19 test

6th Dec 2022 12:29

(Sharecast News) - Shares in clinical diagnostics specialist Novacyt sparked on Tuesday, after the UK regulator approved its latest Covid-19 test.

The Anglo-French firm said its Genesig Covid-19 3G real-time PCR test had been approved under the UK Health Security Agency's medical devices regulations.

The test, Novacyt's seventh to be included in the register of approved Covid-19 diagnostic products, is designed to detect three separate SARS-CoV-2 gene targets.

As at 1245 GMT, Novacyt's AIM-listed shares were ahead 8% at 77.18p.

James McCarthy, acting chief executive, said: "This latest approval ensures we are well-positioned with our consolidated Covid-19 portfolio for any potential future outbreaks and as we continue to focus on our wider diagnostic product offering as part of our growth strategy."

Chief financial officer McCarthy was named acting chief executive earlier this month, after former incumbent David Allmond stepped down with immediate effect after just over a year in the role.