Cambridge Nutritional Science (CNSL)

Sector:

Health Care

Index:

FTSE AIM All-Share

3.97p
   
  • Change Today:
    -0.033p
  • 52 Week High: 4.35p
  • 52 Week Low: 1.73p
  • Currency: UK Pounds
  • Shares Issued: 237.95m
  • Volume: 102,585
  • Market Cap: £9.44m

Omega Diagnostics gets first US order for 'FoodPrint' system

By Josh White

Date: Friday 06 Jan 2023

LONDON (ShareCast) - (Sharecast News) - Omega Diagnostics announced on Friday that it had received a maiden purchase order for its 'FoodPrint' system from a Clinical Laboratory Improvement Amendments (CLIA)-certified laboratory in the United States.
The AIM-traded firm also said it had appointed a new US importer for FoodPrint kits.

It said that, using a "small" finger prick of blood, the FoodPrint test could quickly identify an individual's unique food sensitivity reactions, allowing the patient to adjust and plan to a new diet and address IgG-mediated food sensitivities.

FoodPrint analyses up to 222 foods for IgG antibodies, with the company said it was trusted by more than 150 laboratories globally to help fast-track a guided elimination diet, allowing a "more focused and actionable result" for practitioners and their patients.

The board said it expected installation at the laboratory to start later in January, and after a period of validation and gaining necessary approvals, the processing of tests would begin later in the quarter.

As well as being CLIA-certified, the company said the laboratory receiving the system was also College of American Pathologists-accredited, and was specialised in providing functional tests for both consumers and healthcare practitioners.

Omega said it had also secured an importer for FoodPrint kits into the United States, which would import kits for the CLIA laboratory, as well as for Omega's own direct channels in future.

Although the value of the initial purchase order was around £50,000, the firm said the US market was a "key area of focus" for its growth strategy, with the installation set to be the first in the US market in more than seven years, representing the start of its planned expansion into the country.

"The US is the single largest market for food sensitivity testing globally, with an ever-increasing demand for personalised medicine, and is a focus area for our growth plans," said chief executive officer Jag Grewal.

"This installation reflects a key milestone in our expansion plans, the receiving laboratory is ideally placed to commercialise FoodPrint in the US market as they are already providing a range of other functional tests.

"The appointment of the US importer will act as a foundation for our expansion into the region."

At 1501 GMT, shares in Omega Diagnostics Group were down 0.65% at 3.83p.

Reporting by Josh White for Sharecast.com.

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CNSL Market Data

Currency UK Pounds
Share Price 3.97p
Change Today -0.033p
% Change -0.83 %
52 Week High 4.35p
52 Week Low 1.73p
Volume 102,585
Shares Issued 237.95m
Market Cap £9.44m

CNSL Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value Not Available
Price Trend
85.95% above the market average85.95% above the market average85.95% above the market average85.95% above the market average85.95% above the market average
88.89% above the sector average88.89% above the sector average88.89% above the sector average88.89% above the sector average88.89% above the sector average
Income Not Available
Growth
46.25% below the market average46.25% below the market average46.25% below the market average46.25% below the market average46.25% below the market average
44.44% below the sector average44.44% below the sector average44.44% below the sector average44.44% below the sector average44.44% below the sector average

CNSL Dividends

No dividends found

Trades for 13-Jun-2024

Time Volume / Share Price
08:54 1,269 @ 4.08p
08:54 1,316 @ 3.93p
08:40 100,000 @ 3.93p

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