Why Lucira Health Shares Are Trading Higher Today

Lucira Health, Inc. LHDX shares are surging higher on Tuesday after the company announced it submitted an Emergency Use Authorization application to the FDA for over-the-counter use of its COVID-19 & Flu test.

What happened: Today, Lucira announced that it submitted an Emergency Use Authorization (EUA) application for its at-home molecular COVID-19 & Flu test kits. The company first received EUA for point-of-care use in a healthcare setting in November 2022.

The company’s kits test for COVID-19 and influenza, which the company noted, have similar symptoms but different treatments that are most effective early in an infection. The test aims to differentiate between the two viruses quickly.

In seeking over-the-counter authorization, Lucira intends to make the tests widely available to consumers online and in pharmacies.

Lucira Health Inc is a medical technology company focused on the development and commercialization of transformative and innovative infectious disease test kits.

Lucira has a 100-day average session volume of 336,600 shares. At the time of publication, Tuesday’s session volume had exceeded approximately 135 million shares.

According to data from Benzinga Pro, Lucira Health shares are up approximately 477.0%, trading at $0.65 at the time of publication.