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10/12/2020, 3:16 PM (Source: TeleTrader)
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FDA approves Abbott's COVID-19 antibody test

Abbott Laboratories announced on Monday that it received emergency use authorization (EUA) from the United States Food and Drug Administration (FDA) for its Immunoglobin M (IgM) antibody blood test for COVID-19. The test showed a 99.56% specificity and 95.00% sensitivity for those tested 15 days after developing COVID-19 symptoms.

"Abbott has developed tests to detect the virus at each stage of infection so doctors and their patients are equipped with knowledge of how they are responding to the virus and progressing through recovery. Antibody tests will continue to play an important role to better understand the virus, the prevalence of COVID-19 in an area and where a patient may be in their recovery," CEO Robert Ford said.

Minutes before the opening bell on Wall Street, Abbott shares rose 1.56%.

Breaking the News / VP