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Tuesday, June 2, 2020

Novacyt announces strong ramp in COVID-19 test sales

Novacyt (OTC:NVYTF) provides an update on its polymerase chain reaction (PCR) test for COVID-19.
As of 1 June, COVID-19 test sales were €45M (£40M).
The company has received orders for, or been contracted to deliver, a further €90M (£80M) of its COVID-19 test.
During H2, additional COVID-19 related sales are expected from Company’s new products, Exsig Direct and Exsig Mag, and from mobile testing solution. Both Exsig extraction reagents will launch during June and the mobile COVID-19 system will launch in July.
Also, the company has earned a contract for the supply of 1.5M tests in Zimbabwe. The initial purchase order for the first 500,000 tests has been received and will be shipped immediately.
Haute Autorité de Santé, an advisor the French government on medical reimbursement, did not approved company’s COVID-19 test for reimbursement in France.
Novacyt has secured registrations and regulatory approvals in the following new markets for its COVID-19 test: Panama, Ecuador, Columbia, Peru, Paraguay and the UAE.

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