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PerkinElmer's (PKI) COVID-19 Test Kit Part of Investigative Study
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Oxford Immunotec, a global high-growth diagnostics company and part of PerkinElmer, Inc. , recently announced that its T-SPOT Discovery SARS-CoV-2 kit is being used for T cell testing in the U.K. COVID-19 Human Challenge Study. The study, which is a national collaboration between the U.K. government, the National Health Service (“NHS”), academia and the private sector, will be using a custom version of Oxford Immunotec’s T-SPOT Discovery SARS-CoV-2 kit (for research use only).
For investors’ note, the study is funded by the Department of Business, Energy, and Industrial Strategy through the U.K. Vaccines Taskforce, and is being delivered via a collaboration between the government, hVIVO (part of Open Orphan plc), Imperial College London and The Royal Free London NHS Foundation Trust.
A CE-marked IVD version of the kit (the T-SPOT.COVID test) is also produced by Oxford Immunotec.
The latest investigative study on Oxford Immunotec’s test kit is expected to significantly strengthen the company’s, and in turn PerkinElmer’s, foothold in the global Diagnostics business.
Background of the Study
The T-SPOT Discovery SARS-CoV-2 kit uses the T-SPOT technology platform, which is a standardized ELISPOT methodology, to detect the T cell immune response in study subjects. Notably, T cells are the first responders of the immune system. Hence, gaining an insight into the T-cell immune response, along with the antibody response (via serology), may offer additional perceptions into the response of the complete immune system to infection and vaccination.
Significance of the Study
The U.K. COVID-19 Human Challenge Study is the first study of its type across the world till date, whose generated data is expected to aid in developing vaccines against COVID-19 efficiently and at a faster rate. Notably, the first stage of the trial had commenced in March and is expected to enable identification of the most appropriate dose of the virus required to cause a COVID-19 (SARS-CoV-2) infection in a safe and controlled environment. Hence, the study will establish an optimised dose and study design that will then be utilized to assess the efficacy of treatment and vaccine candidates, including level and duration of immune protection, in follow-on studies.
Per management, the study is expected to be a key catalyst in understanding the response of the immune system to the virus, thereby accelerating vaccine development and treatments against COVID-19.
Industry Prospects
Per a report by Grand View Research, the global T-cell therapy market was valued at $4.6 billion in 2020 and is expected to expand at a CAGR of 20.2% between 2021 and 2028. Factors like the global COVID-19 pandemic and expanding manufacturing capabilities are likely to drive the market.
Given the market potential, the latest study is expected to significantly strengthen PerkinElmer’s global business.
Recent Developments
Of late, PerkinElmer has witnessed a few notable developments across its businesses.
The company, this month, announced its plans to acquire in-vitro diagnostics company — Immunodiagnostic Systems Holdings PLC. The buyout is expected to boost PerkinElmer’s overall Diagnostics business, specifically its immunodiagnostics segment.
Also in May, PerkinElmer entered into an agreement to acquire Nexcelom Bioscience, which is expected to close during the second quarter of 2021.
The company reported a robust revenue growth, both reported and organic, with a stupendous surge in Diagnostics revenues during the first-quarter 2021 earnings release this month.
In April, PerkinElmer’s EUROIMMUN launched the SARS-CoV-2 NeutraLISA assay, which is a proxy neutralization test planned for the detection of neutralizing antibodies against SARS-CoV-2.
Price Performance
Shares of the company have gained 54.9% in the past year compared with the industry’s 64.3% growth and the S&P 500's 42.5% rise.
Zacks Rank & Key Picks
Currently, PerkinElmer carries a Zacks Rank #3 (Hold).
Illumina’s long-term earnings growth rate is estimated at 7%.
DaVita’s long-term earnings growth rate is estimated at 14.4%.
Amedisys’ long-term earnings growth rate is estimated at 12%.
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PerkinElmer's (PKI) COVID-19 Test Kit Part of Investigative Study
Oxford Immunotec, a global high-growth diagnostics company and part of PerkinElmer, Inc. , recently announced that its T-SPOT Discovery SARS-CoV-2 kit is being used for T cell testing in the U.K. COVID-19 Human Challenge Study. The study, which is a national collaboration between the U.K. government, the National Health Service (“NHS”), academia and the private sector, will be using a custom version of Oxford Immunotec’s T-SPOT Discovery SARS-CoV-2 kit (for research use only).
For investors’ note, the study is funded by the Department of Business, Energy, and Industrial Strategy through the U.K. Vaccines Taskforce, and is being delivered via a collaboration between the government, hVIVO (part of Open Orphan plc), Imperial College London and The Royal Free London NHS Foundation Trust.
A CE-marked IVD version of the kit (the T-SPOT.COVID test) is also produced by Oxford Immunotec.
The latest investigative study on Oxford Immunotec’s test kit is expected to significantly strengthen the company’s, and in turn PerkinElmer’s, foothold in the global Diagnostics business.
Background of the Study
The T-SPOT Discovery SARS-CoV-2 kit uses the T-SPOT technology platform, which is a standardized ELISPOT methodology, to detect the T cell immune response in study subjects. Notably, T cells are the first responders of the immune system. Hence, gaining an insight into the T-cell immune response, along with the antibody response (via serology), may offer additional perceptions into the response of the complete immune system to infection and vaccination.
Significance of the Study
The U.K. COVID-19 Human Challenge Study is the first study of its type across the world till date, whose generated data is expected to aid in developing vaccines against COVID-19 efficiently and at a faster rate. Notably, the first stage of the trial had commenced in March and is expected to enable identification of the most appropriate dose of the virus required to cause a COVID-19 (SARS-CoV-2) infection in a safe and controlled environment. Hence, the study will establish an optimised dose and study design that will then be utilized to assess the efficacy of treatment and vaccine candidates, including level and duration of immune protection, in follow-on studies.
Per management, the study is expected to be a key catalyst in understanding the response of the immune system to the virus, thereby accelerating vaccine development and treatments against COVID-19.
Industry Prospects
Per a report by Grand View Research, the global T-cell therapy market was valued at $4.6 billion in 2020 and is expected to expand at a CAGR of 20.2% between 2021 and 2028. Factors like the global COVID-19 pandemic and expanding manufacturing capabilities are likely to drive the market.
Given the market potential, the latest study is expected to significantly strengthen PerkinElmer’s global business.
Recent Developments
Of late, PerkinElmer has witnessed a few notable developments across its businesses.
The company, this month, announced its plans to acquire in-vitro diagnostics company — Immunodiagnostic Systems Holdings PLC. The buyout is expected to boost PerkinElmer’s overall Diagnostics business, specifically its immunodiagnostics segment.
Also in May, PerkinElmer entered into an agreement to acquire Nexcelom Bioscience, which is expected to close during the second quarter of 2021.
The company reported a robust revenue growth, both reported and organic, with a stupendous surge in Diagnostics revenues during the first-quarter 2021 earnings release this month.
In April, PerkinElmer’s EUROIMMUN launched the SARS-CoV-2 NeutraLISA assay, which is a proxy neutralization test planned for the detection of neutralizing antibodies against SARS-CoV-2.
Price Performance
Shares of the company have gained 54.9% in the past year compared with the industry’s 64.3% growth and the S&P 500's 42.5% rise.
Zacks Rank & Key Picks
Currently, PerkinElmer carries a Zacks Rank #3 (Hold).
Some better-ranked stocks from the broader medical space are Illumina, Inc. (ILMN - Free Report) , DaVita Inc. (DVA - Free Report) and Amedisys, Inc. (AMED - Free Report) , each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Illumina’s long-term earnings growth rate is estimated at 7%.
DaVita’s long-term earnings growth rate is estimated at 14.4%.
Amedisys’ long-term earnings growth rate is estimated at 12%.
Infrastructure Stock Boom to Sweep America
A massive push to rebuild the crumbling U.S. infrastructure will soon be underway. It’s bipartisan, urgent, and inevitable. Trillions will be spent. Fortunes will be made.
The only question is “Will you get into the right stocks early when their growth potential is greatest?”
Zacks has released a Special Report to help you do just that, and today it’s free. Discover 7 special companies that look to gain the most from construction and repair to roads, bridges, and buildings, plus cargo hauling and energy transformation on an almost unimaginable scale.
Download FREE: How to Profit from Trillions on Spending for Infrastructure>>