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Chembio Shares Double on $28 Million COVID Diagnostic Test Order

·1 min read

Shares of Chembio Diagnostics doubled in premarket trading Wednesday after the company received a $28.3 million purchase order from Bio-Manguinhos for SARS-CoV-2 Antigen tests in Brazil. The test is designed to detect the COVID-19 pathogen in only 20 minutes using a "minimally invasive" nasal swab.