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The firm said the new contract will provide funding to support the production of up to 6.7 million COVID-19 antigen and antibody tests per month for the US market.

Of the 32 companies in the index, 14 firms saw their stock prices increase, while 18 saw their share prices decline.

LightDeck said it is developing a six-minute test to offer better performance than current lateral flow tests that need 15 minutes or more to return a result.

The collaborators are requesting submissions including budget proposals to scale all supporting components of diagnostic test manufacturing.

The test uses isothermal nucleic acid amplification to return results in 20 minutes at the point of care, and demonstrated 98 percent agreement with PCR testing.

The test, a version of the company's rapid SARS-CoV-2 assay, will be designed for both point-of-care and at-home use as an over-the-counter product.

The funding will be used to validate the Simplexa COVID-19 Direct kit and Simplexa COVID-19 & Flu A/B Direct kit and to submit them to the FDA for 510(k) clearance.

The company's CoV2Ag test is a high-throughput chemiluminescent immunoassay in development for the detection of SARS-CoV-2 antigens in nasal swabs or saliva specimens.

The loop-mediated isothermal amplification test runs on a battery-powered device to provide self-testing individuals with results in approximately 30 minutes.

DiaSorin aims to develop a fully automated, chemiluminescent immunoassay for the semiquantitative detection of IgG antibodies against the SARS-CoV-2 virus.