Avacta Group shares rise as antigen lateral flow test receives EU approval

imageStock Markets4 hours ago (Jun 11, 2021 11:32)

© Reuters

By Samuel Indyk

Investing.com – Shares in Avacta Group rose by 10% on Friday after the company received notice of registration of its AffiDX SARS-CoV-2 antigen lateral flow test in the EU.

The registration will allow the company to place the product on the market in all 27 EU countries for professional use.

“We are delighted to receive confirmation of the registration of the AffiDX SARS-CoV-2 antigen test in the EU,” said Avacta Group CEO Dr Alastair Smith. “The EU is an important market for us, and the product registration is a key commercialisation milestone.”

Avacta (LON:AVCT) confirmed they are progressing multiple commercial opportunities with distributors and users in Europe following the product registration.

The registration in Europe follows a similar move in the UK earlier this week. The UK’s Medicines and Healthcare products Regulatory Agency (MHRA) announced they had confirmed the test allowing the product to be placed on the market in the UK.

“Lateral flow tests have a crucial role to play in helping our societies and economies return to normal, and I am confident that the AffiDX test will now play a significant part in this process,” Smith added.

At 11:29BST, shares in Avacta Group were trading higher by 9.6% at 240.00 pence per share.

Avacta Group shares rise as antigen lateral flow test receives EU approval

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