Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
Hi Happy Days, thank you for your positivity.
However I don’t think Chris has made 760K loss as he bought it on 21.12 when the SP was 26.50
The positive news is that none of the Directors have sold any shares today.
Update just came down:
(Alliance News) - Shares in Abingdon Health PLC took a dive on Monday after it announced that the sensitivity of Avacta Group PLC's Covid lateral flow test is reduced when identifying the Omicron variant.
Abingdon Health's stock was down 20% at 22.75 pence in London, while Avacta fell 26% to 85.95p.
Rapid test manufacturer Abingdon and biopharmaceutical firm Avacta revealed that the sensitivity of their AffiDX lateral flow test is reduced at lower viral loads when identifying the Omicron variant, compared to the test's sensitivity with previous variants.
Avacta explained that the cause for the lower sensitivity of the test is the antibody with which the company Affimer is paired. As such, Avacta has paused sales of the antigen test, as it works to replace the antibody in the product to improve its performance.
Abingdon said its scientists will work with Avacta to "accelerate the process of replacing the antibody" in the current test.
The Avacta Group Plc (LON: AVCT) share price crashed 23.6% after announcing that it had stopped marketing its AffiDX® SARS-CoV-2 antigen lateral flow test (LFT) due to its diminished sensitivity in detecting low viral loads of the Omicron variant.
Investors reacted negatively to the news as expected, leading to the significant decline in Avacta’s share price, but all is not lost. A closer look at the press release indicates that the test’s weak link is the commercial antibody used in the test.
Let me explain. The AffiDX® SARS-CoV-2 has a proprietary Affimer® reagent and a commercially available antibody. Unfortunately, the antibody does not detect lower loads of the Omicron variant.
The latest studies conducted by Avacta revealed that the proprietary Affimer® reagent sensitivity to low viral loads of the Omicron variant remains just as high as with other variants, including the Delta variant. Therefore, the only problem with the tests is the commercial antibody.
It will not take long for Avacta to procure another highly sensitive antibody to both minor and higher Loads of the Omicron variant that can be paired with its proprietary SARS-CoV-2 testing platform.
Today’s crash seems like a market overreaction, and I expect Avacta’s shares to recover once it has incorporated a new highly sensitive antibody into its test and resumed the marketing of its AffiDX® SARS-CoV-2 antigen lateral flow test.
Alastair Smith, Avacta Group’s CEO, commented: “The continued high performance of the Affimer® reagent in the AffiDX® antigen test, despite the large number of mutations in the Omicron variant, is testament to the robustness of our platform technology. As a responsible business, we set very high standards for ourselves and our products and have continually kept the performance of the AffiDX® antigen test under review as new SARS-CoV-2 variants have arisen.”