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ClearStar (AIM: CLSU), a provider of Human Capital Integrity? technology-based services specialising in background and medical screening, announces the launch of a testing service aimed at supporting employers with their COVID-19 return-to-work planning and keeping their workforce safe. The new service is provided by ClearStar's Medical Information Services ("MIS") business through Clinical Reference Laboratory, Inc. ("CRL"), one of the largest privately held clinical testing laboratories in the US, and it includes both an antibody and a diagnostic test.
In the first instance, employees receive the CRL Clear™ kit, which is a dried blood spot finger prick test that is used to identify the presence, or lack, of COVID-19 antibodies in the blood, which are produced by the body in response to the virus. This includes IgA, IgM and IgG antibodies, which are produced at different stages of the immune system response.
A positive test result indicates that the employee has been previously infected by COVID-19 and has developed antibodies that might provide the employee with immunity. The CRL Clear™ kit is based on the Roche Elecsys® Anti-SARS-CoV-2 antibody test, which has received the CE mark and US Food and Drug Administration Emergency Use Authorization.
https://www.investegate.co.uk/clearstar-inc---clsu-/rns/launch-of-covid-19-testing-service-for-employers/202005210700095524N/
Buyer mopping all the small float
well under the radar great news today and look back at other news all positive
Signing tier 1 contracts for fun, potential for break even year, under the radar covid play and can pick them up for what they were two weeks ago before this monster update. I'm in.
Free float 3.6 million
Robert Vale, CEO of ClearStar, said: "Balancing the equally important goals of getting people back to work and ensuring their safety and well-being is top priority for employers. We are proud to be able to offer our customers a new COVID-19 testing service, and by partnering with Clinical Reference Laboratory, whose tests are easy to self-administer, we can offer a reliable and quick turnaround. This new service - alongside our existing suite of background and medical screening solutions - will help employers to make more informed hiring and return-to-work decisions to get people into work quicker while maintaining public safety."
BOOOOM today
Not many companies can say that during Covid
What an RNS
This is a good read on today's news - https://bit.ly/3c4TNwB
Paul
Thanks for your views Pyglet - was beginning to think no one was interested in this share. Accept what you say about shares being thinly traded but given the volumes traded in the 2 days found it hard to comprehend these justified a fall of 25%. Perhaps it was partly due to MMs marking the price down and obtaining shares on the cheap in advance of the trading update which I had failed to notice was due. Trading update positive but all about increasing revenues and as you say no mention of profit estimates or cash balance both of which will no doubt be affected by expansion of sales team. Suspect share will not take off until there is evidence of growing sustainable profits but still a buy in the 50s in my view. In terms of cash position latest figure I can find is in the results for year 2018 which shows it as $0.9 million as at 31 Dec. Don't think they will contemplate issuing more shares at current price levels.
All the best, CY
Nothing has happened except profit taking that's all. Shares are thinly traded and price moves on a 200 buy or sell. It is clearly on the up and its good to see increasing revenues - but it's profit I would like to see growing. What's the cash position??
What has happened to the share price here - down a quarter in 2 days to just over 50p 2 weeks after a director buy in the 70s and a bullish AGM update? Anyone got any ideas - rights issue/placing perhaps given cash balances below £1m? Anyway think this is a well run small company with great prospects and a likely future takeover candidate. While recent dramatic fall worrying still tempted to add to my holding although wary of the saying about catching a falling knife but might wait to see if it falls below 50p first which I didn't think I would see again.
Broadening of medical testing service ClearStar (CLSU) is a leading technology provider to the multi $billion job screening (63% of $17.8m 2017 revenues, up 11% LFL) and drug/medical testing (37%) markets. Momentum seems to be building. At the 22nd May trading update, CLSU announced that it had secured new work with the likes of Gulfstream Aerospace, Hilmar Cheese and BNSF Railway Company (a Berkshire Hathaway company). Then today came news that the firm had enhanced its medical services platform by integrating the ClearMD mobile drug testing solution with Abbott Laboratories, a leading global provider of healthcare diagnostics.This immediately increases the number of CLSU locations [to >9,500] where an employee/candidate can utilise ClearMD, particularly in rural areas. What’s more the agreement should also generate significant economies of scale (eg procurement), along with speeding up the whole service proposition. CEO Robert Vale stating: 'We are very proud to have achieved this integration with Abbott Laboratories, which makes ClearStar the only provider of paperless medical testing with a fully customisable user platform that is integrated with all three major US labs'. Although this agreement does not change our numbers or 95p/share valuation, we nevertheless believe the stock is significantly undervalued. Underpinned by CLSU’s technological expertise, ongoing buoyant demand, high repeat revenues and 90%+ retention rates. Read full article here... https://www.equitydevelopment.co.uk/edreader/?d=%3D%3DgNzQjM
trading seems ok - why does this share stagnate ?