Abingdon Health Secures €2 Million Contract for Diagnostic Test Development

An announcement from Abingdon Health PLC ( (GB:ABDX) ) is now available.

Abingdon Health PLC has secured a €2 million contract with a European biotech company for the development and regulatory approval of a companion diagnostic test. This contract highlights the company’s comprehensive CDMO services, which include development, scale-up, technical transfer, and regulatory support. The project is expected to take 24 months and emphasizes Abingdon’s ability to manage complex diagnostic development processes effectively. This win underscores the company’s strong market position and its appeal as a one-stop partner for diagnostic solutions, bolstered by recent acquisitions and the launch of Abingdon Analytical.

Spark’s Take on GB:ABDX Stock

According to Spark, TipRanks’ AI Analyst, GB:ABDX is a Neutral.

Abingdon Health PLC is showing strong technical momentum and strategic growth initiatives through recent corporate events, enhancing its market position. However, significant financial performance challenges, particularly in profitability and cash flow generation, along with a negative valuation metric, weigh on the overall score.

To see Spark’s full report on GB:ABDX stock, click here.

More about Abingdon Health PLC

Abingdon Health PLC is a leading med-tech contract service provider, offering a range of services including lateral flow product development, regulatory support, technology transfer, and manufacturing. The company serves an international customer base, focusing on areas such as infectious disease, clinical testing, companion diagnostics, animal health, and environmental testing. Abingdon Health also provides regulatory services through its subsidiaries, Compliance Solutions (Life Sciences) and IVDeology, and offers analytical testing and performance evaluation through Abingdon Analytical Ltd. Additionally, the company operates the Abingdon Simply Test e-commerce platform, providing self-tests to empower consumers in managing their health.

Average Trading Volume: 130,693

Technical Sentiment Signal: Sell

Current Market Cap: £13.07M

Learn more about ABDX stock on TipRanks’ Stock Analysis page.