24th Dec 2020 12:25
(Alliance News) - Braveheart Investment Group on Thursday noted a recent increase in its share price, but admitted that it did not know the reason for the rise.
Shares in the AIM-listed investment firm were down 8.5% at 25.62 pence on Thursday in London, but had risen as high as 30.20p earlier in session. Since the start of trading on Friday last week, the stock remains up 52%.
Braveheart noted that on Friday, it had announced that investee Paraytec Ltd's work to develop a Covid-19 test is proceeding at pace.
Paraytec had acquired purified SARS-CoV2 virus, which it will use to optimise both the lower limit and speed of detection, with the aim of detecting virus in asymptomatic or pre-symptomatic patients.
Looking ahead, Braveheart does not expect to report further progress until the results of the live tests are known, which is expected to be known in late January. In addition, the company said there is no certainty that these test results will be successful.
By Dayo Laniyan; [email protected]
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