Stock Alert: Fluidigm Up 6% As COVID-19 Saliva Test Added In Federal Program

(RTTNews) - Shares of Fluidigm Corp. (FLDM) are rising more than 6 percent or $0.45 in Monday's morning trade at $7.20.

Friday, the U.S. Department of Health and Human Services said it is offering Fluidigm's saliva test as part of the federal surge testing effort for COVID-19. According to the agency, the easy-to-use saliva test detects SARS-CoV-2, the virus that causes COVID-19, on a molecular level using a microfluidics platform.

A clinical study conducted by the manufacturer showed that the accuracy of the test is comparable to other molecular-level tests of nasal swab samples, the HHS noted.

The HHS said that Waco, Texas, is the first community to offer saliva testing for COVID-19 through the federal Community-Based Testing Site or CBTS program starting October 16. The Fluidigm saliva test will be offered at three sites through mid-November.

Fluidigm has traded in a range of $1.17 to $12.45 in the past 52 weeks.