After the bell Monday, Cepheid (CPHD) announced the first in a series of agreements with the Bill & Melinda Gates Foundation, the United States President's Emergency Plan for AIDS Relief, the United States Agency for International Development and UNITAID to buy-down the price of the Xpert MTB/RIF test in an effort to drive adoption of the technology as a critical tool in interrupting the transmission cycle of tuberculosis.
Cepheid spiked to the upside in early trade Tuesday, but settled into a range for the majority of the session. The stock closed up by 4.54 at $38.70 on above average volume. Cepheid rose to a 2 1/2 week high and re-crossed its 200-day moving average.
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