Shares in the investment company have more than doubled to 83p from 40p since 11 February.
Braveheart today reminded investors that the announcement on 29 January was an update concerning progress on a COVID-19 test that investee company Paraytec is working on with Sheffield University.
On 29 January, it was noted that the pipeline of clinical samples was now fully operational and additional staff had been recruited to process samples for performance assessment, Braveheart said today.
“The update also stated that the results from this phase of clinical testing were expected by the end of February and this remains the case,” today’s statement added.
“Until the results of the testing are known there can be no certainty that the tests will be successful.”
Paraytec and Sheffield University’s aim is to develop a test that delivers a Covid-19 result within five minutes.