- The stock price of Precipio Inc (NASDAQ: PRPO) increased by 37.17% during after-hours trading as it went from $4.95 to $6.79. This is why it happened.
The stock price of Precipio Inc (NASDAQ: PRPO) increased by 37.17% during after-hours trading as it went from $4.95 to $6.79. This is a continuation in momentum as the stock price increased 171.98% during regular market hours, going from a previous close of $1.82 to a closing price of $4.95.
Investors responded positively to Precipio announcing that it has successfully launched its COVID-19 rapid antibody test (20 minutes) – which tests for both IgG and IgM antibodies on Amazon.com’s business platform.
Precipio holds the exclusive rights to distribute this product on Amazon’s platform. And the antibody test – which is manufactured in the USA by Nirmidas Biotech – was the first US-based test to receive emergency use authorization (EUA) by the FDA for point-of-care.
The product is available for sale on Amazon’s website and app, per the EUA approval, received for the test kit in December of 2020. But it may currently be purchased only by qualified medical point-of-care (POC) providers. And physicians and other medical facilities may now buy these items directly from Amazon, and receive them within 2 business days.
The purpose of this test is to identify the presence of antibodies that have been developed after the person has been exposed to the virus or has been vaccinated. Antibodies are the body’s natural biological response to an infection or vaccination and their development begins the body’s process of building immunity to protect against future infections.
There are 2 key important benefits to knowing if an individual has antibodies. First, individuals unknowingly infected or those who know they were infected can determine if they now have those antibodies. And for those who are deliberating whether to get vaccinated, this test presents a tool that can provide additional information to make that decision. And secondly, the individuals who have been vaccinated can use the test to inform whether the vaccination was successful and if the antibodies measured have persisted over time.
Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.