Genedrive PLC (LON:GDR) has said that its coronavirus testing kit has completed the last significant manufacturing milestone and remains on track.
The diagnostics firm said the test has completed its pilot manufacturing runs and yielded high performing multiplexed assays for coronavirus testing. The company is now aiming for the test to receive CE marking in around three weeks.
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The test is designed to deliver a test result quickly in close proximity to patients, rather than needing to send samples to labs to be tested and waiting for a conclusive result.
"We are very pleased to have passed these technical milestones and with CE marking planned we will offer our novel high throughput test in the near future”, Genedrive chief executive David Budd said in a statement.
“Users will be able to adopt a [coronavirus] testing solution with unique assay features…we remain confident that this assay will make a significant contribution to the testing market", he added.
In a note on Friday, analysts at Peel Hunt said the company’s test “fundamentally differentiates” the company form others developing coronavirus tests and “perhaps places it as the only such provider of such a simple-step process – in this urgent global requirement”.
“We remain very enthusiastic about the direction the company is taking to lend its diagnostic heritage to coronavirus testing”, the broker said.
The news sent the shares surging 17.3% to 127.8p in mid-morning trading on Friday.
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