June 18, 2020 / 6:35 AM / 21 days ago

Novacyt shares jump after launch of new COVID-19 testing products

PARIS (Reuters) - Healthcare and clinical diagnostics company Novacyt, whose shares have surged on the back of its COVID-19 testing products, on Thursday announced the launch of three new products to support testing for the presence of the virus.

The names of the new products are Exsig™ Direct, Exsig™ Mag and COVID-HT, Novacyt said.

The announcement of Novacyt’s latest COVID-19 testing products pushed the company’s Paris-listed shares up by around 10% by 0710 GMT, with the stock having jumped by around 1,600% since the start of 2020.

“As we continue to supply our COVID-19 test to laboratories around the world, we are delighted to provide further support through the launch of these new products,” CEO Graham Mullis said.

Novacyt has singled itself out with a test able to detect the new coronavirus in less than two hours. Standard testing, which also identifies other strains, takes up to a day.

Reporting by Sudip Kar-Gupta; editing by Mark Potter and Jason Neely

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