Novacyt Shares Rise on Improved FY Revenue Guidance After Covid-19 Test Approval — Update

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by Sabella Ojes

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Shares of Novasit SA rose on Friday after the company improved its full-year revenue guidance following the approval of its Geneig Covid-19 real-time PCR test in the UK under the Health Protection Agency’s Medical Devices Regulations 2021.

The clinical-diagnostics company said it will now work to resume sales of the product in the country.

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The London-listed company had submitted 11 products for review under Coronavirus Test Device Approval (CTDA) to meet the original submission deadline of September 1, and said its full-year revenue performance was estimated at around £3 million. ($4) will have an effect. million) if no more product is added to the CTDA register.

With this approval, its full-year revenue guidance has improved significantly, Novasit said, as Genig Covid-19 testing accounts for about 30% of its revenue shortfall guidance.

Shares were up 43.50 pence, or 13%, at 375.50 pence at 0855 GMT.

Write to Sabela Ojea at [email protected]; @sabelaojeaguix

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