Lucira Health Inc. (LHDX) shares more than doubled in the extended session on Friday after the Food and Drug Administration (FDA) authorized the use of their at-home test that can detect both the flu and the virus that causes COVID-19. The stock price of Lucira soared more than 150% after hours, following a regular session gain of 13.45% to close at 14 cents. The authorization marks a major milestone in bringing greater consumer access to diagnostic tests that can be performed entirely at home.
The news comes after earlier this week, Lucira had filed for chapter 11 bankruptcy protection. Jeff Shuren, head of FDA’s Center for Devices and Radiological Health, commented on the authorization in a statement, saying: “Today’s authorization of the first OTC test that can detect Influenza A and B, along with SARS-CoV-2, is a major milestone in bringing greater consumer access to diagnostic tests that can be performed entirely at home.”
The authorization of Lucira’s test marks a significant step forward in the fight against the coronavirus pandemic. It is the first over-the-counter test that can detect both Influenza A and B, as well as SARS-CoV-2, the virus that causes COVID-19. This means that people can now detect the virus in the comfort of their own homes, without the need for a doctor’s visit or laboratory testing.
The test works by using a nasal swab to collect a sample from the patient, which is then placed into a sample tube and inserted into the Lucira All-In-One Test Kit. The kit contains a chemical reagent that activates the sample and a battery-powered reader that analyzes the sample and sends the results to a mobile app. The app then provides the patient with their results, which can be shared with their doctor if needed.
The test is designed to be used by people ages 14 and up and is intended for home use only. It is not intended to diagnose or rule out a diagnosis of COVID-19, but rather to provide an indication of whether a person has been infected with either the flu or the virus that causes COVID-19. The test is not intended to replace testing done in a laboratory or doctor’s office.
Lucira’s test is the latest development in the fight against the coronavirus pandemic. It is a significant step forward in providing people with greater access to diagnostic tests that can be performed entirely at home. The test is easy to use and provides results quickly, making it an invaluable tool in the fight against the virus.
The authorization of Lucira’s test is a major breakthrough in the fight against the coronavirus pandemic. It provides people with greater access to diagnostic tests that can be performed entirely at home, with results available quickly and easily. This is an important step forward in the fight against the virus, and one that will no doubt be welcomed by many. With the authorization of Lucira’s test, the fight against the virus has taken another major step forward.
