- Preferred bidder selected for sale of CD4 manufacturing business - Substantial up-front payment and royalties expected - Focus now on higher margin Health & Nutrition Specialist medical diagnostics firm Omega Diagnostics (ODX:AIM) said it had selected a preferred bidder after receiving several indicative offers for its CD4 Advanced Disease testing business. The bidder has been ...

Medical equipment manufacturer Omega Diagnostics (ODX:AIM) has raised £5 million from investors to shore up its balance sheet after failing to win a follow on Covid testing contract with the Department of Health and Social Care. Omega now plans to sell its diagnostic test kit manufacturing business and facility in Alva, Scotland. It has struck a conditional  £1 million agreement with ...

In response to online speculation, specialist medical diagnostics company Omega Diagnostics (ODX:AIM) has confirmed it is in discussions with certain shareholders and investors regarding a possible capital raise. The company said ‘challenging’ market conditions meant any raise would need to be conducted at a discount, sending the shares 25% lower to 8p. Today’s news follows the ...

Shares in specialist medical diagnostics firm Omega Diagnostics (ODX:AIM) plunged 27% to 23.8p on Friday after it revealed the Department of Health and Social Care has asked the company to pay back pre-production payments it received in relation to a contract to supply manufacturing capacity for lateral flow antigen tests. Chief executive Colin King commented: ‘Acting in good faith we used ...

The FTSE 100 struggled for direction on Tuesday as inflation levels continued to accelerate in the US, with the blue chip benchmark ending the session pretty much flat at 7,124.72 points. By 4.30pm UK time the S&P 500 index in the US was up 0.1% at 4,390.52. The CPI print of 0.9% for June was very much stronger than expectations of a 0.5% advance, leaving the Federal Reserve’s repeated ...

London’s FTSE 100 was broadly flat by midday at 7.128.43 points as initial momentum in the UK banking sector, after the Bank of England lifted dividend restrictions on the sector’s heavyweights, began to wane and worries over rising coronavirus infections kept gains in check. By lunchtime, NatWest (NATW) was off 0.4% at 206p, with Barclays (BARC) flat at 172.7p, although HSBC (HSBA) and ...

UK banks gave leading stocks a push higher in early trade on Tuesday afternoon the Bank of England lifted dividend restrictions on the sector’s heavyweights but worries over rising coronavirus infections kept gains in check. At 9am, the benchmark FTSE 100 was around 0.3% at 7,174.34, with NatWest (NATW) topping the leaderboard with gains just shy of 2% to 210.4p. HSBC (HSBA), Lloyds ...

London’s FTSE 100 finished Friday’s trading session broadly flat, off a mere 0.03% at 7,123.27 points, despite a stronger than expected jobs report in the US which confirmed that the world’s biggest economy continues to heal at a steady clip. The FTSE 250 closed 0.6% to the good at 22,747 points. AJ Bell financial analyst Danni Hewson said the slightly less celebratory mood in London ...

London’s FTSE 100 was up 0.23% at 7,141.32 by noon on Friday, the blue chip benchmark nudging higher with miners and pharmaceutical stocks leading the way, although traders keeping their powder dry ahead of the latest US employment data. Yet concerns over a recent jump in coronavirus infections outweighed reopening optimism and kept the index on course for a muted weekly ...

The UK’s leading shares had made decent gains after a slow start in relatively quiet trading on Friday with traders keeping their powder dry ahead of the latest US employment data. But concerns over a recent jump in coronavirus infections outweighed reopening optimism and kept the index on course for a muted weekly showing. At 9am, the benchmark FTSE 100 had moved 0.46% higher to 7,158.11 ...

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 ...

UK stocks opened higher on Tuesday thanks to increasing investor confidence that US lawmakers will push through a large stimulus package, while major miners released some positive dividend news. By 8.50 am, the FTSE 100 was up 0.4% at 6,781.8 points, while the FTSE 250 index edged 0.3% higher to 21,474.4 points. CORPORATE NEWS Mining titan BHP (BHP) softened 0.3% to £22.21 despite hiking ...

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 ...

UK stocks opened higher on Monday following rises on Asian exchanges and in the oil price, as the global Covid-19 vaccine rollout gained momentum and US lawmakers closed in on a stimulus deal. The benchmark FTSE 100 index was up 0.24% at 6,504.57 points early on, with BP (BP.) gaining 1.4% to 255.6p and Royal Dutch Shell (RDSB) up 0.4% to £13.51 after Brent crude prices hit $60 a ...

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 ...

Shares in food intolerance and infectious disease diagnostics company Omega Diagnostics (ODX:AIM) gained 6% to 49.25p after signalling early signs of a second half recovery. TRACTION IN CHINA Omega received approval in November from the Chinese regulator for its self-testing food intolerance product Food Detective, and encouragingly the company noted a 12% increase in sales during October ...

The  announcement of second lockdown measures in England gave biotechnology shares involved in Covid-19 testing another a boost with Avacta (AVCT:AIM), Omega Diagnostics (ODX:AIM), Genedrive (GDR:AIM) all registering gains. However these moves were overshadowed by the 110% gain in gene cell engineering company [bold] Horizon Discovery (HZD:AIM) and the 75% gain in blood flow monitoring firm ...

Despite a strong start for UK shares, driven by renewed hope over a US stimulus package and a coronavirus vaccine, the FTSE 100 finished modestly lower on Monday. Investors were unnerved by another wave of Covid-19 lockdowns in Europe, a disappointing third quarter Chinese growth figure as well as the probability a pandemic stimulus package won’t arrive before the US election. By close of ...

UK shares got off to a strong start on Monday morning as renewed hope over a US stimulus package and a coronavirus vaccine helped investors shrug off concerns over a no-deal Brexit and negative interest rates. Yet by lunchtime, the FTSE 100 was largely flat as the boost from US stimulus hopes, vaccine developments and Chinese economic data waned. US futures suggested Wall Street would manage ...

UK shares got off to a strong start on Monday morning as renewed hope over a US stimulus package and a coronavirus vaccine helped investors shrug off concerns over a no-deal Brexit and negative interest rates. Optimism has grown that US lawmakers can agree on a fresh round of stimulus after House Speaker Nancy Pelosi on Sunday set a 48-hour deadline for lawmakers to cut a deal on economic aid ...