New Monthly Series Spotlights What 100 Physicians Find to be Critical Needs in Their Battle Against COVID-19

Rhea-AI Summary

Oxford Immunotec Global PLC (OXFD) launched a monthly survey, 100 Physicians Find, gathering insights from 100 medical professionals on COVID-19 management. The inaugural findings reveal that 82% of respondents trust molecular (PCR) tests, while only 56% express confidence in serology tests. Notably, 75% of physicians reported unmet diagnostic needs, highlighting a demand for new testing alternatives. CEO Dr. Peter Wrighton-Smith stated that these insights will guide future diagnostic developments, ensuring that medical professionals' requirements are addressed during the pandemic.

Positive

• Launch of the monthly survey 100 Physicians Find to gather insights from physicians on COVID-19.
• 82% trust in molecular (PCR) tests indicates a reliable diagnostic tool.
• Identified significant unmet needs for new diagnostic alternatives, presenting opportunities for product development.

Negative

• Only 56% of physicians have confidence in serology testing, suggesting a gap in diagnostic trust.
• 75% of respondents expressed having unresolved diagnostic questions, indicating potential limitations in current testing offerings.

The first survey results reveal physicians seek new diagnostic tools and insights to improve COVID-19 management and patient outcomes

OXFORD, United Kingdom and MARLBOROUGH, Mass., Jan. 14, 2021 (GLOBE NEWSWIRE) -- Oxford Immunotec Global PLC (Nasdaq: OXFD) (the “Company”), a global, high-growth diagnostics company, announces the launch of 100 Physicians Find, a monthly survey that takes the pulse of one hundred medical professionals on the front lines of the COVID-19 pandemic about their perspectives, experiences and needs in the face of this global health crisis.

In its first installment of 100 Physicians Find, the Company reports results identifying gaps in the testing toolbox. Oxford Immunotec is sharing the results as a call for the industry to heed the need of physicians who are making critical decisions for the wellbeing of patients every day.

The inaugural survey asked physicians across the USA and Europe about whether, when, and how frequently they used four different types of COVID-19 tests: molecular (PCR), lab-based antibody (serology), rapid antigen, and T cell testing. Respondents were also asked about their confidence in test results, their unmet needs in diagnostic testing, and where they thought new types of tests would be useful.

The data show the majority of physicians (82%) trust the molecular (PCR) test used to confirm an active SARS-CoV-2 infection. However, there is much less faith in serology testing, with only 56% of physicians expressing confidence in its accuracy and/or utility in confirming PCR results or identifying patients suspected of having a prior infection. Most respondents (75%) had unanswered diagnostic questions, and more than 60% said alternatives to serology and new tests for assessing immunity, vaccine responses and other patient characteristics would be valuable additions to their toolkit for managing COVID-19.

Dr. Peter Wrighton-Smith, CEO of Oxford Immunotec, said, “We initially set out to assess how our T-SPOT^® Technology would answer some standing diagnostic questions for clinicians. In the process, we found an eager audience willing to share unfiltered responses. With the first survey developing our understanding of the needs of medical professionals for diagnostic testing in COVID-19, we will be building on these findings to ensure the needs of the frontline medical community are heard as their needs continue to evolve with the epidemic. And, we will be sharing this information with the wider community to give others an opportunity to understand the thoughts of medical professionals in this area.”

The initial survey findings provide the Company with a foundation for building monthly surveys, which will seek physicians’ responses to the latest developments in the COVID-19 pandemic and efforts to combat it.

The full data set is available for download free of charge here: http://www.oxfordimmunotectbcovidhub.com

For further information visit http://www.tspotdiscovery.com

About Oxford Immunotec

Oxford Immunotec Global PLC is a global, high-growth diagnostics company. We bring energy and invention to a world in need of diagnostic truth. We are uniquely placed as the only company in the world offering regulated ELISPOT assays for T cell measurement, with approval around the globe. Our leading product, the T-SPOT.TB test, is used for diagnosing infection with tuberculosis, the world’s largest cause of death from infectious disease. The Company is an experienced manufacturer of IVD tests, operating under a fully audited Quality Management System, ensuring rigorous batch control. The company has manufactured in excess of 20 million clinical T cell tests for TB infection.

The T-SPOT.TB test has been approved for sale in over 50 countries, including the United States, where it has received pre-market approval from the Food and Drug Administration, Europe, where it has obtained a CE mark, as well as Japan and China. The Company is headquartered near Oxford, U.K. and in Marlborough, MA. Additional information can be found at www.oxfordimmunotec.com.

About T-SPOT^® Discovery SARS-CoV-2

Oxford Immunotec has been developing and strengthening its expertise in T cell measurement for over 18 years since the introduction of its T-SPOT technology in the field of TB diagnostics. In that time we have taken the classic ELISPOT technique and developed it into the world leading proprietary T-SPOT technology platform we now use to measure T cell immune responses, improving performance, standardising results, and streamlining the workflow. This high performance is ensured by our regularly audited manufacturing facility operating to our rigorous quality management system. The T-SPOT.TB test, an in vitro diagnostic (IVD) test using the T-SPOT technology platform, has been granted regulatory approval for clinical diagnostic use in over 50 countries, including US, EU, Japan and China.

The research use-only T-SPOT Discovery SARS-CoV-2 assay uses this same T-SPOT technology to allow SARS-CoV-2-specific T cells to be detected and enumerated. The optimized antigen mix used in the test is based on SARS-CoV-2 structural proteins and allows the maximum breadth of the immune response to be measured. The Company’s single antigen-per-well approach allows specific information about the immune response to different SARS-CoV-2 antigens to be gathered in parallel. Sample processing can be centralised whilst still enabling testing on fresh (rather than frozen) blood, using the Company’s T-Cell Xtend^® reagent (32 hr room temperature (RT) sample stability).

T-SPOT Discovery SARS-CoV-2 is for research use only, not for use in diagnostic procedures

T-SPOT, the Oxford Immunotec logo, T-Cell Xtend, and T-SPOT Discovery are trademarks of Oxford Immunotec Limited.

Forward-Looking Statements

This release contains forward-looking statements that involve substantial risks and uncertainties. All statements, other than statements of historical facts, contained in this release are forward-looking statements. This includes statements about Oxford Immunotec’s anticipated plans and objectives, future performance and revenues, financial condition, prospects for sales of its products, growth, strategies, expectations and objectives of management. Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. Forward-looking statements contained in this release reflect Oxford Immunotec’s current expectations and are subject to risks and uncertainties. Actual results may differ materially from those projected or implied by forward-looking statements. Other factors that could adversely affect Oxford Immunotec’s business and prospects are described under the “Risk Factors” section in its filings with the Securities and Exchange Commission (“SEC”). Oxford Immunotec’s SEC filings are available for free by visiting the investor section of its website, www.oxfordimmunotec.com, or the SEC’s website, www.sec.gov.

Investors should give careful consideration to these risks and uncertainties. Forward-looking statements contained herein are based on current expectations and assumptions and currently available data and are neither predictions nor guarantees of future events or performance. Investors should not place undue reliance on forward-looking statements contained herein, which speak only as of the date of this release. Oxford Immunotec does not undertake to update or revise any forward-looking statements after they are made, whether as a result of new information, future events, or otherwise, except as required by applicable law.

CONTACTS:

For Investor Inquiries:
Matt McLaughlin
Chief Financial Officer
Oxford Immunotec
Tel: +1 (508) 573-9953
mtmclaughlin@oxfordimmunotec.com

For Media Inquiries:
Mary Conway
MKC Strategies, LLC
Tel: +1 (516) 606-6545
mconway@mkcstrategies.com

 

FAQ

What are the findings from the first <em>100 Physicians Find</em> survey conducted by Oxford Immunotec?

The survey revealed that 82% of physicians trust molecular (PCR) tests, while only 56% have confidence in serology tests. Additionally, 75% reported unmet diagnostic needs.

How does the <em>100 Physicians Find</em> survey impact Oxford Immunotec's future developments?

The survey results will guide Oxford Immunotec in addressing the evolving needs of physicians in COVID-19 management and possibly lead to the development of new diagnostic tests.

What is the significance of the trust levels reported in the survey for the stock OXFD?

The high trust in PCR tests may positively influence Oxford Immunotec's product relevance and market positioning, while low confidence in serology tests highlights areas for improvement.

When was the <em>100 Physicians Find</em> survey launched by Oxford Immunotec?

The survey was launched on January 14, 2021.