Uk investor magazine6 Jul 2023 14:36
3. Abingdon Health
Abingdon Health shares have shot up by 131% over the past six months, despite poor prior performance as a result of delivering its covid-19 test to the market far too late to be of practical use.
However, the £15 million biotech has finally officially launched its Salistick pregnancy test in partnership with Salignostics, revolutionising the industry by introducing a saliva-based testing method instead of relying on urine.
This groundbreaking development has tremendous potential, considering that in the UK alone, approximately 12.5 million pregnancy tests are conducted each year. Furthermore, the global market for pregnancy test kits is expected to reach a staggering $2.28 billion by 2028.
What makes this launch even more compelling is the strategic distribution plan. Abingdon has secured a deal to sell the test at 400 Superdrug locations, in addition to making the product available on Superdrug.com. This level of accessibility positions the Salistick pregnancy test for tremendous success — as one reviewer notes, ‘Why has it taken 80 years to develop this…why did someone just think one day: Saliva has pregnancy hormones in, why not make a test?’
Of course, the company faces several challenges: building brand recognition in a fiercely competitive market, coping with a limited cash runway, and generating positive cashflow.
A buyer with deep pockets could easily decide to step in.