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Open Orphan coronavirus test launch underpins 19p share price target, says finnCap

The City broker left its forecasts unchanged but said there is room for upside depending on uptake of the test

Open Orphan PLC -

Broker finnCap has repeated its price target of 19p for Open Orphan PLC (LON:ORPH) after the launch today of its coronavirus (COVID-19) antibody test.

The timing of the launch was in line with expectations, said the broker, with the service to be offered to large employer groups and channel partners such as GP networks.

Dialogue with these has been underway since the announcement of the service on May 11, added the broker.

finnCap left its forecasts unchanged but said there is room for upside depending on uptake of the test.

Earlier, Open Orphan said samples will be tested in the company's London lab with results returned within 48 hours.

Subsidiary hVIVO is using the Quotient MosaiQ system and MosaiQ COVID-19 Antibody Microarray, which it said has the “best-in-class COVID-19 antibody testing performance”.

In a statement, Open Orphan chairman Cathal Friel commented:  “We are very excited to be offering this service and I am confident our work will help large companies and clinics in the UK test their staff and patients to ensure the safety of all employees.”

Quick facts: Open Orphan PLC

Price: 24.2001 GBX

AIM:ORPH
Market: AIM
Market Cap: £161.67 m
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