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Stock Alert: Chembio Diagnostics Stock Up 55% In Early Trading

Shares of Chembio Diagnostics Inc. (CEMI) are surging over 55% in pre-market today, and has been trading in the range of $2.25 - $7.90 for the past one year. The stock closed Tuesday's trade at $5.12, down 36 cents or 6.57%. Trading volume rose to 500K versus an average volume of 287K shares.

CEMI is currently trading at $7.94, up $2.82 or 55.08% in the pre-market trading session.

The company, on March 31, announced the U.S. launch of the rapid DPP COVID-19 serological point-of-care test for the detection of IgM and IgG antibodies. These results can be obtained within 15 minutes from a simple finger stick utilizing Chembio's MicroReader 1 and MicroReader 2 analyzers which are produced by Chembio Germany.

The company noted that the ability of the DPP platform to provide numerical results could aid clinicians in determining current or past exposure to the COVID-19 virus and monitoring infection progression, while avoiding the human interpretation errors associated with visual readings.

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