Stock Alert: Quidel Stock Up 20% As FDA Approves New Antigen Test For COVID-19

(RTTNews) - Shares of Quidel Corp. (QDEL) are currently gaining over 20 percent on Monday morning after the U.S. Food and Drug Administration granted the company emergency-use authorization to its antigen test for the Covid-19 virus.

QDEL is currently trading at $190.61, up $32.01 or 20.18 percent, on the Nasdaq.

On Friday, FDA issued the authorization to market Quidel's Sofia 2 SARS Antigen FIA, a rapid point-of-care test to be used with the Sofia 2 Fluorescent Immunoassay Analyzer for the rapid detection of SARS-CoV-2.

An antigen test is a new type of diagnostic test designed for rapid detection of the virus that causes COVID-19. These diagnostic tests quickly detect fragments of proteins found on or within the virus by testing samples collected from the nasal cavity using swabs.