LMDX - LumiraDx reissued FDA authorization for COVID-19 testing solution

LumiraDx (NASDAQ:LMDX) is trading ~8.5% higher in the pre-market after the company announced that the FDA reissued the Emergency Use Authorization (EUA) for its COVID-19 testing solution SARS-CoV-2 RNA STAR Complete. The revised EUA includes the testing of asymptomatic individuals as well as the ability to detect the newly found COVID-19 Omicron variant (B.1.1.529). Allowing pooling of up to five individuals and access to open RT-PCR 384-well systems, the newly issued EUA will help labs to ramp up the testing capacity economically with same-day reporting of test results. LumiraDx’s (LMDX) SARS-CoV-2 RNA STAR Complete, based on the company’s qSTAR technology, can yield results within 20 minutes. Read more on why Evercore ISI turned bullish on the stock last month.

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LumiraDx reissued FDA authorization for COVID-19 testing solution