Rapid Test For Monkeypox? NY-Based Chembio Diagnostics Thinks They Can Pull It Off

Chembio Diagnostics Inc CEMI is evaluating the potential to develop a monkeypox rapid point-of-care (POC) test. 

• Chembio is exploring the technical requirements for test development leveraging its multiple technology platforms, DPP, SURE CHECK, and STAT PAK, along with funding partners and the broader market opportunity.
• "We are in dialogue with leading health organizations at the federal and state level to evaluate the need for a rapid test to detect and diagnose monkeypox. We are assessing the market needs, timing, regulatory pathway, and investment required to develop a test," said Richard Eberly, President & CEO. 
• There are now over 11,000 total confirmed monkeypox cases in the United States.
• Currently, the FDA has cleared one test to detect monkeypox, offered through the U.S. Centers for Disease Control and Prevention (CDC) as a lab-developed test (LDT). The test utilizes a swab sample from a monkeypox lesion, creating the need for earlier detection to limit the spread.
• Chembio's proprietary DPP technology platform provides high-quality, rapid diagnostic results in 15 - 20 minutes using a small drop of blood from the fingertip or alternative samples. 
• The DPP platform can detect up to eight test results from a single patient sample through advanced multiplexing.
• Price Action: CEMI shares are down 1.18% at $0.86 on the last check Tuesday.