Avacta Group (AVCT)

Sector:

Pharma and Biotech

Index:

FTSE AIM All-Share

46.50p
   
  • Change Today:
    -0.25p
  • 52 Week High: 159.60
  • 52 Week Low: 44.50
  • Currency: UK Pounds
  • Shares Issued: 359.04m
  • Volume: 2,722,374
  • Market Cap: £166.95m
  • RiskGrade: 461
  • Beta: 0.06

Avacta confident despite filing delay for Covid-19 antigen test

By Josh White

Date: Tuesday 01 Jun 2021

LONDON (ShareCast) - (Sharecast News) - Diagnostics and cancer therapies developer Avacta Group updated the market on its CE-mark submission for its 'AffiDX' SARS-CoV-2 antigen lateral flow test for professional use.
The AIM-traded firm said the submission was the responsibility of its partner Mologic, which submitted the declaration of conformity to the Medicines and Healthcare products Regulatory Agency (MHRA) in the UK on 10 May.

It said the regulatory submissions to both the MHRA and to a 'competent authority' in a European Union member state were subcontracted by Mologic to an independent regulatory consulting agency.

"An error made by that agency, for which it was solely responsible, resulted in a delay to the MHRA submission which was finally made on 28 May," Avacta said in its statement.

"In the meantime, the company has continued its discussions with distributors and customers for the AffiDX antigen test and does not anticipate that the error will cause a delay to first commercial sales of the product."

Following the delayed MHRA submission, it said it expected Mologic to receive confirmation of registration of the AffiDX test for the UK market from the MHRA "shortly".

"The company can confirm that the submission of the declaration of conformity has also been made to a competent authority in an EU member state, to enable marketing and sale of the AffiDX SARS-CoV-2 antigen lateral flow test in the EU."

Avacta also confirmed that the SARS-CoV-2 test referenced in a social media post on 27 May, highlighting an email that had been obtained from the MHRA reporting rejection of a filing of a declaration of conformity of a SARS-CoV-2 antigen test from Mologic, was an "unrelated" Mologic antigen test.

"It was not the Avacta AffiDX SARS-CoV-2 antigen lateral flow test, as purported in the social media post," the board said.

At 1056 BST, shares in Avacta Group were down 0.74% at 235.26p.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Avacta Group Market Data

Currency UK Pounds
Share Price 46.50p
Change Today -0.25p
% Change -0.53 %
52 Week High 159.60
52 Week Low 44.50
Volume 2,722,374
Shares Issued 359.04m
Market Cap £166.95m
Beta 0.06
RiskGrade 461

Avacta Group Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
34.39% below the market average34.39% below the market average34.39% below the market average34.39% below the market average34.39% below the market average
56.86% below the sector average56.86% below the sector average56.86% below the sector average56.86% below the sector average56.86% below the sector average
Price Trend
85.71% below the market average85.71% below the market average85.71% below the market average85.71% below the market average85.71% below the market average
52.73% below the sector average52.73% below the sector average52.73% below the sector average52.73% below the sector average52.73% below the sector average
Income Not Available
Growth
62.05% above the market average62.05% above the market average62.05% above the market average62.05% above the market average62.05% above the market average
71.43% above the sector average71.43% above the sector average71.43% above the sector average71.43% above the sector average71.43% above the sector average

What The Brokers Say

Strong Buy 0
Buy 2
Neutral 0
Sell 1
Strong Sell 0
Total 3
neutral
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Avacta Group Dividends

No dividends found

Trades for 02-May-2024

Time Volume / Share Price
17:07 5,000 @ 46.50p
16:56 100,000 @ 45.78p
16:52 325,000 @ 46.19p
16:38 100,000 @ 46.25p
16:29 5,120 @ 46.30p

Avacta Group Key Personnel

CFO Tony Peter Gardiner
CEO Christina Coughlin

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