Stock Alert: Chembio Up 30%; Bags Big Contract For Covid-19 Tests

(RTTNews) - Shares of micro-cap company Chembio Diagnostics Inc. (CEMI) are gaining nearly 30% on Friday morning after the diagnostics tests maker said it received a huge $4 million purchase order from Brazilian company Bio-Manguinhos for Covid-19 test. Chembio Diagnostics received a $4-million worth order from Bio-Manguinhos for the purchase of Chembio's DPP COVID-19 IgM/IgG System, to support the urgent needs of Brazil's Ministry of Health. Chembio's Brazilian subsidiary has filed for ANVISA approval of the DPP COVID-19 IgM/IgG System under the emergency use authorization program. The DPP COVID-19 IgM/IgG System is a single-use rapid point-of-care test for the detection and differentiation of IgM and IgG antibodies to COVID-19 in whole blood, via fingerstick using Chembio's handheld analyzer. CEMI is currently trading at $3.80, up $0.87 or 29.69% on the Nasdaq.