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Full year performance in-line with management expectations
October expected to be a record month for both PrimeStore MTM and core business sales
PHE study: PrimeStore MTM only commercially available reagent able to inactivate SARS-CoV-2
EKF Diagnostics Holdings plc (AIM: EKF), the AIM listed point-of-care business, announces that trading in October is expected to demonstrate continued and strong overall growth, and that full year performance remains in-line with management expectations, which have already been revised upwards several times this year.
A significantly improved performance in the core business based on October orders underpins the Board’s confidence of an H2 recovery. This, combined with continued orders for the PrimeStore MTM COVID-19 sample collection device, means that October is expected to be a record month for EKF in terms of revenues and profits.
The Company is also pleased to note that PrimeStore MTM was successfully evaluated for effective SARS-CoV-2 inactivation in a study published by Public Health England (PHE). The study showed that of the few transport reagents, from the 23 tested, where no residual virus was detectable, PrimeStore MTM is the only commercially available CE-marked and FDA cleared transport media.
The PrimeStore MTM sample collection device deactivates viruses, bacteria, fungi and mycobacterium tuberculosis allowing safe sample handling and transport, greatly reducing risk of infection. The device was invented in 2006 in preparation for a worldwide pandemic and is designed to de-activate pathogen rapidly and stabilise the RNA for up to four weeks with no requirement for cold storage. In the case of COVID-19, by deactivating the virus testing can now take place outside of containment facilities, opening up capacity in more testing laboratories. With the flu season approaching, the PrimeStore MTM can also safely collect flu and COVID-19 samples in the same collection kit.
Due to the continued demand for PrimeStore MTM and the improving performance of our core business the Board remains confident of delivering on the strong full year performance reflected in previously revised management expectations. Whilst it is too early to make further revisions to these performance expectations, trading in October is expected to suggest a strong Q4 performance. The Company intends to provide a further update on trading in early November.
The persons responsible for arranging the release of this Announcement on behalf of the Company are Julian Baines, CEO, and Richard Evans, FD and COO respectively.
EKF Diagnostics Holdings plc
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About EKF Diagnostics Holdings plc
EKF is a leading point-of-care diagnostics and central laboratory assay manufacturer with an estimated 80,000 hemoglobin, hematocrit, HbA1c, glucose and lactate analyzers in regular use across more than 100 countries. EKF specializes in developing tests for use in anemia and diabetes diagnosis and management, as well as providing a portfolio of reagents for use in clinical chemistry analyzers.