Stock Alert: Adial Pharma Jumps 40% As FDA Grants EUA For COVID-19 Test

(RTTNews) - Shares of nano-cap company Adial Pharmaceuticals, Inc. (ADIL) surged nearly 40% on Tuesday morning after FDA granted emergency use authorization for the company's COVID-19 point-of-care antibody test.

ADIL is currently trading at $1.9542, up $0.5442 or 38.5958%, on the Nasdaq.

The clinical-stage biopharmaceutical company said FDA has issued an emergency use authorization for its Assure/FaStep COVID-19 IgG/IgM Rapid Test Device.

This marks the first FDA EUA for a serology (antibody) point-of-care test for COVID-19 using fingerstick blood samples as compared with current approved tests that only utilize serum, plasma, or a venous blood draw.