Why Fluidigm Stock Surged Today
Shares of Fluidigm (NASDAQ: FLDM) soared on Wednesday after the biotechnology tools provider said its new saliva-based test for SARS‑CoV‑2 -- the virus that causes COVID-19 -- received emergency use authorization from the U.S. Food and Drug Administration (FDA). As of 1:13 a.m. EDT, Fluidigm's stock was up more than 35%.
Since it uses saliva samples, Fluidigm's test is easier to perform for medical professionals -- and far more comfortable for patients -- than tests that require nasal swabs. Yet Fluidigm said its test, called the Advanta Dx SARS-CoV-2 RT-PCR Assay, generated results that were in 100% agreement with the results from paired nasal-swab samples tested with other FDA-authorized assays.
Investors are excited about the market potential of Fluidigm's new coronavirus test. stock Image source: Getty Images.
Source Fool.com
