Chembio Diagnostics Shares Rise Premarket After South Africa Approval

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by Chris Wack

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Chembio Diagnostics Inc. shares were up 17% to $2.34 in premarket trading on Monday after the company said it received South Africa Health Products Regulatory Authority approval for its DPP SARS-CoV-2 antigen test, which authorizes marketing and distribution of the test. does. Point-of-care by professional healthcare providers.

The company said the DPP SARS-CoV-2 Antigen Test was designed to detect SARS-CoV-2 antigen in just 20 minutes using a minimally invasive nasal swab and can be performed visually or with a DPP Micro Reader 2 optical analyzer. Designed to be read together.

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Chembio Diagnostics said that both the DPP SARS-CoV-2 antigen test and IgM/IgG antibody test are authorized for import and distribution in South Africa by Patient Focus Africa, in accordance with the license issued by SAHPRA. PFA is partly owned by Discovery Health, the largest private health insurance provider in South Africa, and provides services in both the public and private healthcare markets in the country.

Write to Chris Wack at [email protected]

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