The shares of Lucira Health Inc. (NASDAQ: LHDX) rose 12.57% to $9.40 in premarket trading at the last check. Thursday’s session closed with Lucira stock down -7.02% at $8.35. LHDX stock volume stayed at 0.45 million shares, slightly below the average daily volume of 0.51K in the past 50 days.
LHDX stock went down by -30.99% in the last week. The current market capitalization of Lucira is $326.15 million, and the number of outstanding shares of LHDX stands at 39.06 million. News of successful identification of a COVID-variant sends LHDX stock soaring.
Lucira’s success in brief:
The medical technology company Lucira Health focuses on the development and commercialization of transformative and innovative diagnostics for infectious diseases. In a single-use, consumer-friendly, palm-sized test kit powered by two AA batteries, LHDX’s testing platform produces lab-quality molecular testing. Test kits from LHDX provide accurate, reliable, and on-the-spot results. LUCIRA COVID-19 All-In-One Test Kits (RX) provides results within 30 minutes of the time samples are taken.
Today, Lucira Health confirmed that its Lucira molecular test kit can identify COVID-19’s double mutant variant.
- On March 24, 2021, researchers first identified the “double mutant” variant in India, and on March 25, 2021, Stanford Clinical Virology Lab scientists found the same variant in California.
- CDC scientists are tracking its two genetic mutation sequences that are unique among other variants.
- Debkishore Mitra, co-founder and chief technology officer, LHDX, said viruses ‘copy’ themselves when they replicate.
- A number of these strains were first discovered in England, Brazil and South Africa.
- Different variants can occur when the virus manifests its genetic code and it copies itself and creates a new, mutant code.
- By making errors in identifying, the immune system isn’t able to counteract the virus and it will become harder to detect.
How is the LHDX test kit different?
A simple ‘swab, stir, and detect’ platform available via Lucira (LHDX) demonstrated that a hundred percent of users were able to complete the test in less than two minutes of hands-on time. In contrast, to test kit from LHDX, lab tests conducted in centralized laboratories take up to 14 days to produce similar accurate tests results.