Novacyt surges as UK Covid test gets OK

NOVACYT offered a rare glimmer of sunshine for investors today with shares up 9.4% after UK health regulators gave its Covid-19 test the green light.

The diagnostics company will now apply to resume commercial sale of Genesig, which it expects to mitigate a previously forecast £3 million hit to revenues. The real-time PCR test was one of the first brought to market but has become snared in a legal wrangle dispute over cancellation of a £150 million Government contract.

CEO David Allmond said: “With the resumption of the sale of this product in the UK, we look forward to ensuring customers have access to this marketleading test during the winter season.”