Last checked at 
Genedrive PLC - Manchester, England-based molecular diagnostics firm - Shares in Genedrive surge after it announces that it has submitted its Covid test for EU approval. Genedrive says its COV19-ID kit delivers positive results as quickly as 7.5 minutes and negative results at 17 minutes. The Omicron variant of the coronavirus does not affect the assay design of the test, company claims. Genedrive's initial commercial focus is on the European Union and will be followed by the UK.
"We are now able to progress the commercial evaluations of the product to selected partners and given its performance in our studies, we believe there remain substantial market opportunities that can be targeted," explains Chief Executive David Budd.
Current stock price: 36.35 pence, up 57% on Monday
Year-to-date change: down 24%
By Will Paige; willpaige@alliancenews.com
Copyright 2021 Alliance News Limited. All Rights Reserved.
