Scottish biotech firm Omega Diagnostics has said it is not aware of “any material reason” for a further surge in the company’s share price.

The value of the AIM-listed company rose more than 18% in trading on Wednesday after Sky News aired a report that referred to Omega’s part in the UK Rapid Test Consortium, which is working to develop at-home tests to detect coronavirus antibodies. It is also involved in a second partnership with Bedfordshire-based Mologic to develop a laboratory test for Covid-19 antibodies.

READ MORE: Omega Diagnostics surges as virus testing plans progress

“In respect of both these opportunities the company will keep the market informed as matters develop,” Omega said in a statement.