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The contracts are for two lateral flow rapid antigen tests, a laboratory-based test to detect and identify SARS-CoV-2 variants, and a rapid RT-PCR test.
Of the 31 companies in the index, 11 firms saw their stock prices increase, while 20 saw their share prices decline.
The company's antigen test uses fluorescence to objectively determine test results and offers answers at the point of use in 10 minutes.
The firm's test reader can be attached to any smartphone to take images of the test results and send them to be interpreted by artificial intelligence.
While the human toll of the disease has been terrible, IVD makers also report there have been some positive developments, as demand has spiked and familiarity with testing has grown.
The eight-month contract is for Abbott to provide 50 million BinaxNow SARS-CoV-2 antigen tests with the ordering period ending on Oct. 31.
The lateral flow test is designed to detect immunoglobulin G antibodies against SARS-CoV-2 in a finger prick blood sample and returns results in 20 minutes.
The testing program is part of a strategy to lift restrictions in the UK.
The kit, developed by Gauss in collaboration with Cellex, uses a smartphone app to instruct an individual on how to collect a sample and perform the test.
The test was the first OTC at-home test for the coronavirus to receive EUA from the FDA in December. The US will procure 8.5 million tests.