Lucira Health is Soaring Monday: Here Are The Details

Lucira Health Inc LHDX shares are soaring on Monday after the company announced U.S. Food and Drug Administration (FDA) authorization for its at-home combination COVID-19 and flu test.

What Happened: Lucira said the FDA granted emergency use authorization for its combination test for over the counter use at home and at other non-laboratory sites. 

Lucira's at-home test is a molecular test that has demonstrated similar performance for COVID-19 and Influenza A and B compared to highly sensitive lab-based PCR tests in clinical trials. The company noted that American consumers have never been able to self-diagnose the Flu at home before Monday.

"Our small but experienced team at Lucira has again demonstrated the versatility of our technology platform by introducing this first-of-its-kind innovation in clinically relevant at-home diagnostics to the marketplace. The authorization of the COVID-19 & Flu Home Test with OTC label is another example of how Lucira is helping to transform the future promise of home-based, fast, accurate diagnostics into a reality," said Erik Engelson, president and CEO of Lucira Health. 

Lucira also noted that it's seeking a strategic or financial partner for the resumption of manufacturing and development of additional home diagnostic products.

See Also: Seagen Stock Soars On Pfizer Takeover Talks: What's Going On?

LHDX Price Action: Lucira has a 52-week range of $0.11 to $5.67.

The stock is up 342.6% at 62 cents at the time of publication, according to Benzinga Pro.

Photo: Leo from Pixabay.

Market News and Data brought to you by Benzinga APIs
Posted In: NewsPenny StocksFDAMoverswhy it's moving
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!