Chembio Diagnostics Stock Is Trading Higher On FDA Emergency Use Nod For Its Partner's LumiraDX COVID-19 Antibody Test

The FDA has granted emergency use authorization to Chembio Diagnostics Inc's CEMI partner LumiraDx's COVID-19 antibody test.
LumiraDx and Chembio had announced a partnership on March 12, 2020 to develop point of care COVID-19 antibody test.
The nod comes for LumiraDx SARS-CoV-2 Ab Test, a microfluidic immunofluorescence assay for the qualitative detection of total antibodies in whole human blood, plasma, or serum for indication of recent or prior infection.
Recently, the Company received a $28 million order to supply DPP SARS-CoV-2 Antigen tests for delivery during 2021 in Brazil.
Price Action: CEMI shares are up 15.1% at $3.39 during the market session on the last check Tuesday.
Related content: Benzinga's Full FDA Calendar.
Editor's note: The item has been updated to include the partnership details of Chembio and LumiraDx in the second bullet