CEMI - Chembio stock gains after COVID-19 tests nab European Union nod

Chembio Diagnostics (CEMI) rises 10% in premarket on the heels of CE mark approval for its DPP SARS-CoV-2 antigen and IgM/IgG test systems in the European Union.The company also entered into an exclusive U.K. and Ireland distribution pact with Luas Diagnostics, which will commence system sales immediately .The antigen test utilizes a minimally-invasive nasal swab to detect SARS-CoV-2 antigens in only 20 minutes.The IgM/IgG test system detects antibodies in the blood that the body produces in response to a COVID-19 infection. Objective results can be obtained within 15 minutes using finger stick, venous whole blood, plasma, or serum samples.

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Chembio stock gains after COVID-19 tests nab European Union nod