Abingdon Health shares surge 124 per cent after antibody test kit launch
Abingdon Health’s share price has soared following the launch of its at-home Covid antibody test kits.
Yesterday, York headquartered Abingdon Health announced the launch of its Covid-19 antibody self test causing share prices to jump as much as 124 per cent from a low of GBX36.89 on August 23 to highs of GBX82.70 today.
The company is working in partnership with manufacturers BioSure UK, a company which produces rapid HIV tests. The home test kit uses a drop of finger-prick blood and returns results within 20 minutes.
The test, which costs £32.95, allows people to monitor their antibody status pre and post vaccination and after Covid-19 infection. The thickness of the line which appears on the testing strip indicates users’ level of immune response, letting people test whether they are protected against coronavirus.
A spokesperson for Abingdon Health commented on the “dramatic rise in share price.” They said it was “no doubt a result of the fact that antibodies are back on the agenda for governments in the UK and worldwide.”
“They are a key indicator of immune response and could be crucial for managing covid-19 over the long run,” the spokesperson added.
The news comes as the government today launched a UK-wide antibody surveillance programme.
The scheme will offer 8,000 people per day who have tested positive for coronavirus a finger prick antibody test kit.
Unlike Abingdon Health tests, which can be completed at home, government issued test kits will be sent to a lab for processing and will help the government to assess levels of immunity.
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