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Oxford Immunotec Global PLC (Nasdaq: OXFD) announced findings from a study with Public Health England, indicating that SARS-CoV-2 reactive T cells may provide protection against COVID-19. The data, published in a MedRxiv paper, highlights the EDSAB-HOME study involving nearly 3,000 keyworkers. Results showed no symptomatic infections among high T cell responders, while 20 infections occurred in those with low responses. The study suggests T cell assays could be vital in risk stratification for COVID-19, particularly in populations with declining T cell levels due to age.
Oxford Immunotec Global PLC (Nasdaq: OXFD) announced the FDA submission for the T-Cell Select reagent kit, facilitating automated sample preparation for the T-SPOT® .TB test. This submission aims to meet strong demand for automation from lab partners, enhancing logistics by allowing samples to be processed up to 54 hours post-collection without refrigeration. The T-SPOT.TB test has already received FDA clearance for pediatric use and boasts a sensitivity of 95.6% and a specificity exceeding 97.1%. The reagent kit is currently available in Europe and expanding globally.
Oxford Immunotec Global PLC (Nasdaq: OXFD) reported a third-quarter 2020 revenue of $19.4 million, slightly above the guidance of $18-$19 million but an 8% decline from $21.2 million in 2019. Notably, Asia saw a revenue increase of 4%, achieving a new quarterly record. Gross margin improved to 76.4%, up 340 basis points from the previous year. Adjusted EBITDA was $1.7 million. The company anticipates fourth-quarter revenue between $19.0-$20.0 million if testing volumes continue to recover from COVID-19 disruptions.
Oxford Immunotec Global PLC (Nasdaq: OXFD) has been selected by the UK Vaccines Taskforce to conduct T cell testing crucial for COVID-19 vaccine trials. This competitive award recognizes the company's expertise in T cell measurement and its T-SPOT® technology. The funding includes up to £3 million to support this effort. The T-SPOT Discovery SARS-CoV-2 assay will measure the SARS-CoV-2 specific T cell responses, aiding in the assessment of vaccine effectiveness. The partnership aims to enhance understanding of immune responses during trials.
Oxford Immunotec Global PLC (Nasdaq:OXFD) will release its third quarter 2020 financial results on November 3, 2020, before market opening. A conference call will be hosted by CEO Dr. Peter Wrighton-Smith and CFO Matt McLaughlin at 8:00 a.m. ET to discuss the results. The call can be accessed by dialing (855) 363-5047 for U.S. callers or +1 (484) 365-2897 for international callers. The T-SPOT®.TB test, the company's leading product, has been approved for sale in over 50 countries, including the U.S., and has manufactured over 20 million clinical tests for TB infection.
Oxford Immunotec Global PLC (NASDAQ: OXFD) has received FDA clearance to use its T-SPOT.TB test for children aged two and older in the United States. This change addresses the unmet need for pediatric tuberculosis screening, where outdated methods like the tuberculin skin test are still prevalent. The T-SPOT.TB test is a single-visit blood test recognized for its superior clinical performance, boasting a sensitivity of 95.6% and specificity exceeding 97.1%. This advancement allows providers to conduct essential TB screenings efficiently during the pandemic.
Oxford Immunotec has received FDA clearance to expand the use of its T-SPOT.TB test to children aged two and older, addressing a significant unmet medical need in TB screening. This approval allows healthcare providers to conduct TB tests in one visit, improving efficiency, especially during the pandemic. The T-SPOT.TB test, which boasts a sensitivity of 95.6% and specificity over 97.1%, is available through Quest Diagnostics and regional labs. It is recognized as one of the WHO's essential diagnostic tests, underscoring its global relevance.
Oxford Immunotec has partnered with Public Health England to conduct the EDSAB-HOME study, aimed at validating SARS-CoV-2 antibodies using home testing kits. The study will utilize the unique T-SPOT Discovery SARS-CoV-2 test, which focuses on T cell responses rather than antibodies. This approach addresses limitations associated with antibody testing, helping to determine the T cell presence in patients and the strength and longevity of the immune response. The trial has engaged over 3,000 individuals and seeks to contribute valuable insights into COVID-19 testing protocols.
Oxford Immunotec Global PLC (Nasdaq: OXFD) will release its second quarter 2020 financial results on August 4, 2020, before market open. CEO Dr. Peter Wrighton-Smith and CFO Matt McLaughlin will host a conference call at 8:00 a.m. ET on the same day to discuss the results. Investors can join via telephone or access a live audio webcast on the company's website. The T-SPOT® TB test, the company’s leading product, is approved for sale in over 60 countries, playing a key role in tuberculosis diagnosis globally.
Oxford Immunotec Global PLC (Nasdaq: OXFD) announced a long-term agreement to supply its T-SPOT.TB test to the Stop TB Partnership - Global Drug Facility (GDF). This follows the inclusion of the test in GDF’s diagnostics catalog, enhancing access for TB diagnostics in over 140 countries. The T-SPOT.TB test, recognized by WHO, demonstrates a 98.8% sensitivity and over 99% specificity, catering to challenging patient populations. This collaboration aims to address TB diagnostic needs, particularly in high-burden nations.
