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CEMI - Chembio Diagnostics: A Reset Of Expectations While Still Chasing The COVID Opportunity
Chembio Diagnostics Inc.
Chembio Diagnostics suffered a significant setback in Q2 when the FDA revoked the emergency use authorization for its COVID-19 rapid-testing system.
The company has submitted a new application with the FDA and expects and approval still this year allowing it to capture the high market demand.
While the stock remains speculative and we maintain a cautious outlook, the current valuation appears reasonable following the large selloff in recent months.