World Health Organization Approves Corgenix's Ebola Test, Shares Spike Higher

Shares of Corgenix Medical Corporation CONX spiked higher by more than 7 percent on Friday after the World Health Organization approved the company's 15-minute Ebola test. Corgenix Medical's Ebola test is less accurate than the standard PCR test, but is easy to perform, does not require electricity and offers results within 15 minutes, according to World Health Official spokesman Tarik Jasarevic. The rollout of the test kits will not begin immediately as the company is still working out costing and needs additional time to complete administrate procedures with the U.S. Food and Drug Administration. Shares traded recently at $0.28, up $0.02 (7.6 percent).