OraSure touches 10-year high on FDA nod for HIV test
Key points
- Shares of OraSure Technologies Inc rose to their highest in more than 10 years after U.S. health regulators on Tuesday approved its in-home HIV test, the first such product to get the nod.
- The company's stock was up 12 percent at $13.57 on Thursday, making it one of the top percentage gainers on the Nasdaq.
- More than 3.5 million OraSure shares changed hands by 1054 ET, several times its 10 day average daily volume of 0.34 million.
- The approval makes OraQuick In-Home HIV Test the first over-the-counter self-administered examination for the virus.
Shares of OraSure Technologies Inc rose to their highest in more than 10 years after U.S. health regulators on Tuesday approved its in-home HIV test, the first such product to get the nod.
The company's stock was up 12 percent at $13.57 on Thursday, making it one of the top percentage gainers on the Nasdaq.
More than 3.5 million OraSure shares changed hands by 1054 ET, several times its 10 day average daily volume of 0.34 million.
The approval makes OraQuick In-Home HIV Test the first over-the-counter self-administered examination for the virus.
The test provides results within 20 to 40 minutes from an oral fluid sample taken by swabbing the upper and lower gums inside the mouth.
ThinkEquity LLC analyst Spencer Nam expects the launch to have a major impact on the company's fourth-quarter revenue and expects the stock to reach $17.00 by the year end.
###
(Reuters)
Written and revised by
David Cohen, M.D.
Our doctors write and review articles for accuracy and keep them up to date.
health.am provides general information, not medical advice. Always consult a qualified health professional about your own health.
Explore health topics
More in this topic
Infections, HIV & STIs →
NewsTo halt AIDS, stop brief risk counseling, concentrate on testing, national study says
For decades, people seeking an HIV test have been counseled on realistic and achievable steps they could take to avoid infection. But a national study led by Miller School investigators has determined that, given the…
24 October 2013
NewsSuspected polio cases found in Syria for first time in 14 years
Two suspected cases of polio have been detected in Syria, the first appearance of the incurable viral disease there in 14 years, the World Health Organization (WHO) said on Saturday. The U.N. body said initial test…
20 October 2013
NewsPromising HIV Vaccine May Take 10 Years to Perfect
If a breakthrough in developing an HIV vaccine occurred today, scientists and drug companies would need another decade to provide a commercial product. But, after a long struggle, researchers may indeed have made that…
