Precipio Inc (NASDAQ:PRPO) has seen its stock surge by 175% so far in May and the rally in the stock continued today as it went up by 25%.
The specialty diagnostic company has been in sharp focus among investors ever since it successfully launched its COVID 19 rapid antibody test on Amazon on May 3, 2021. The company currently holds exclusive rights with regards to the distribution of these 20-minute testing kits on Amazon’s online marketplace.
The test has been developed by the California-based Nirmadas Biotech and has the distinction of being first antibody test from the United States that was awarded emergency use authorization (EUA) by the United States Food and Drug Administration. The EUA had actually been granted back in December 2020. The testing kit helps the user in knowing if he has had exposure to the virus and also confirms whether he has been vaccinated.