Lucira Health is Soaring Monday: Here Are The Details

Lucira Health Inc LHDX shares are soaring on Monday after the company announced U.S. Food and Drug Administration (FDA) authorization for its at-home combination COVID-19 and flu test.

What Happened: Lucira said the FDA granted emergency use authorization for its combination test for over the counter use at home and at other non-laboratory sites. 

Lucira's at-home test is a molecular test that has demonstrated similar performance for COVID-19 and Influenza A and B compared to highly sensitive lab-based PCR tests in clinical trials. The company noted that American consumers have never been able to self-diagnose the Flu at home before Monday.

"Our small but experienced team at Lucira has again demonstrated the versatility of our technology platform by introducing this first-of-its-kind innovation in clinically relevant at-home diagnostics to the marketplace. The authorization of the COVID-19 & Flu Home Test with OTC label is another example of how Lucira is helping to transform the future promise of home-based, fast, accurate diagnostics into a reality," said Erik Engelson, president and CEO of Lucira Health. 

Lucira also noted that it's seeking a strategic or financial partner for the resumption of manufacturing and development of additional home diagnostic products.

See Also: Seagen Stock Soars On Pfizer Takeover Talks: What's Going On?

LHDX Price Action: Lucira has a 52-week range of $0.11 to $5.67.

The stock is up 342.6% at 62 cents at the time of publication, according to Benzinga Pro.

Photo: Leo from Pixabay.