Why Quidel Corporation Stock Is Jumping Today

Shares of Quidel Corporation (NASDAQ: QDEL) are rising sharply on Monday and are up by 8.1% as of 2:46 p.m. EST today after jumping by as much as 9.8% earlier in the day. The catalyst for these gains? Quidel Corporation, which focuses on developing medical diagnostic products, announced this morning that another one of its COVID-19 test kits has received emergency use authorization (EUA) from the U.S. Food and Drug Administration (FDA).

Quidel Corporation has been very active in the COVID-19 testing market. Earlier this year, the company received regulatory clearance for several products, including its Sofia 2 Flu + SARS Antigen FIA. This test can help healthcare professionals detect and distinguish between cases of the flu and cases of COVID-19 (both illnesses share many of the same symptoms).

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Source Fool.com