Shares of Chembio Diagnostics, Inc. (CEMI) soared 159.2% on the news that the company had bagged a $28.3 million purchase order for its DPP SARS-CoV-2 Antigen tests from Bio-Manguinhos of Brazil. The order will be executed in 2021 to support the urgent needs of Brazil’s Ministry of Health in addressing the COVID-19 pandemic. Shares closed at $5.34 on July 21. Chembio Diagnostics develops, manufactures, markets, and licenses rapid point-of-care diagnostic tests that detect infectious diseases including the COVID-19 virus, HIV, and Ebola. All of its DPP rapid tests have received the necessary approvals from the authorized regulatory bodies.
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Chembio Diagnostics (NASDAQ:CEMI)
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