Alva-based Omega Diagnostics Group said it is “not aware of any material reason” for latest 18% the increase in its share price on Wednesday.

Shares of Omega have risen exponentially in the past two months amid news it “CE-Marked Mologic Ltd’s first generation ELISA antibody test for COVID-19.”

On Wednesday, Omega said: “As previously announced the company continues to work with its partner Mologic Ltd with regards its first generation ELISA antibody test for COVID-19 and also with the UK Rapid Test Consortium, which is jointly developing, and will manufacture, a Point-of-Care COVID-19 lateral flow antibody test.

“In respect of both these opportunities the company will keep the market informed as matters develop.

“In a Sky News interview earlier today, the introduction referred to the Consortium being able to make 50m tests a year, a figure also referred to in a newspaper article published on 26 April 2020.

“This is not a figure that relates to the potential output from Omega and its manufacturing facilities alone.”