Enzo soars after COVID test granted Emergency Use by FDA

In a letter dated July 7, the FDA granted Enzo Biochem Emergency Use Authorization for its Ampiprobe SARS-CoV-2 Test System. "Based on the totality of scientific evidence available to FDA, it is reasonable to believe that your product may be effective in diagnosing COVID-19, and that the known and potential benefits of your product when used for diagnosing COVID-19, outweigh the known and potential risks of your product," the FDA said in a letter to Enzo Biochem. The Ampiprobe SARS-CoV-2 RT-PCR Kit is a "multiplexed assay that contain two primer/probe sets specific to different SARS- CoV-2 genomic regions and primers/probes for internal control and negative control, human RNase P," according to Enzo. The stock in midday trading is up 26% to $3.11. Reference Link