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Novacyt: shares take a beating

09/04/2021 · Novacyt SA (NCYT) 

AIM UK

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AIM’s top performer in 2020 has fallen back to earth after a disappointing trading update. Are the shares now a bargain or is there more trouble ahead? We offer our thoughts on this amazing little business.

The share price of Novacyt (LON: NCYT), the clinical diagnostics specialist and AIM’s top performer in 2020, tumbled 40% today on news that it is dispute with Department of Health and Social Care (DHSC).

Background

On 29 September 2020, Novacyt announced a second supply contract with the DHSC for its exsig®COVID-19 Direct kits and other products. In an earlier trading update on 29 January 2021, it explained it was in active discussions with the DHSC regarding an…

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