Shares in cancer therapies and diagnostics company Avacta (AVCT:AIM) sank 30% to 81.4p after it said laboratory analysis showed its proprietary lateral flow test was less effective at detecting lower viral loads of the Omicron variant.Today's announcement also knocked the shares of leading lateral flow test manufacturer and developer Abingdon Health (ABDX:AIM) which was scaling up the...

Shares in biotherapeutics and reagents company Avacta (AVCT:AIM) surged 22% to 189p on Tuesday after clinical trials for its rapid Covid-19 antigen test showed excellent progress.The UK and EU studies used patient samples with known viral loads confirmed by PCR (polymerase chain reaction) test, which is considered the gold standard of Covid-19 virus testing.Avacta's rapid lateral flow antigen...

Shares in Avacta (AVCT:AIM) gained 12% to 143p on Monday after the biotherapeutics firm said it had entered into a commercial partnership with Mologic to accelerate its lateral flow Covid-19 antigen test to market.Avacta was one of the first companies to announce the development of lateral flow tests for Covid-19 using its Affirmer reagents. The antigen tests are designed to give results in...

Shares in diagnostics company Omega Diagnostics (ODX:AIM) advanced 3.5% to 64.2p on Tuesday after its partner Abingdon Health (ABDX:AIM) provided an update on the government's Rapid Test Consortium (RTC).Abingdon's shares, which listed on the AIM market on 15 December at 92p, were unchanged at 95p.SELF-ADMINISTERED ANTIBODY TEST The UK-RTC was formed in April to develop and manufacture a...