OraSure's COVID-19 Rapid Antigen Tests Gets FDA Emergency Approval for OTC, Professional, Prescription Use

OraSure Technologies Inc (NASDAQ:OSUR) has received FDA Emergency Use Authorization (EUA) for its COVID-19 rapid antigen tests, InteliSwab.
These tests detect active COVID-19 infection; the agency has given the emergency nod for Over-the-Counter use.
FDA has also authorized the InteliSwab COVID-19 Rapid Test Pro for professional use in point of care (POC) and InteliSwab COVID-19 Rapid Test Rx for Prescription Home Use.
InteliSwab incorporates a built-in swab that is fully integrated into the test stick, simplifying the entire testing process.
The use of the integrated swab also helps ensure supply continuity, as InteliSwab does not require sourcing scarce nasal swabs.
The testing result is available on the test stick in 30 minutes.
The Company will be ramping up the production capacity to 70 million units annually from the current 55 million in Q3 of 2021.
Price Action: OSUR shares are up 4.6% at $9.72 during the market session on the last check Monday.