Shares of Alva-based Omega Diagnostics Group fell about 15% on Thursday amid reaction to a study published in the BMJ evaluating “the accuracy of the AbC-19TM Rapid Test for detection of previous SARS-CoV-2 infection in key workers.”

Omega shares fell to around 49p. The shares soared from around 7p in March to 107p in October but have since fallen back.

In a stock exchange statement, Omega said it “notes the recent media comment on the AbC-19 Rapid Test and rejects the conclusions drawn on the performance of the test.”

Omega added: “The fact remains that the Department of Health and Social Care (DHSC) is satisfied with the performance of the test, as is the UK-RTC.

“Public Health England conducted its own evaluation at the DHSC’s request, and the DHSC will continue to deploy the test for use in surveillance studies.

“Accordingly, Omega does not believe the antibody testing opportunity through the UK-RTC has diminished.

“Omega also welcomes the positive news on the progress of a viable vaccine and believes the need for COVID-19 antibody testing generally has not gone away and will continue for some considerable time.”