Precipio (NASDAQ:PRPO) shares are trading higher on Thursday.

The company announced it entered into an agreement with ADS Biotec to distribute its FDA-authorized COVID-19 serology antibody tests that recently received Emergency Use Authorization.

Precipio is a diagnostics company, which has built a platform designed to eradicate the problem of misdiagnosis by harnessing the expertise and technology developed within academic institutions and delivering diagnostic information to physicians. The company's platform delivers diagnostic accuracy through academic expertise and cutting-edge technology.

It operates as a laboratory focused on delivering specialized diagnostic services to physicians and their patients to ensure they receive accurate results.

Precipio shares were trading up 371% at $5.80 at the time of publication on Thursday. The stock has a 52-week high of $8 and a 52-week low of 55 cents.