How Has The Chembio (CEMI) Stock Appreciated Nearly 7% In The Pre-Hours Session?

During pre-market trading, shares of Chembio Diagnostics Inc. (NASDAQ: CEMI) were up 6.59% to $0.3851 in spite of no apparent significant news. The stock closed the last session at $0.36, fluctuating from $0.3506 to $0.4125.

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Recently, what has CEMI been up to?

The Centers for Disease Control and Prevention (CDC) awarded Chembio (CEMI) a $3.2 million contract last week to develop and validate a rapid point-of-care (POC) diagnostic test for syphilis.

  • Using Chembio’s Dual Path Platform (DPP) technology and its proprietary DPP Micro Reader II, Chembio will develop a syphilis test and confirm assay.
  • Using the assay, treponemal and nontreponemal IgM and IgG antibodies can be detected simultaneously and separately.
  • Results can be obtained in about 20 minutes with fingerstick blood, serum, or plasma sample.
  • Having developed, validated, and commercialized DPP HIV-Syphilis in the past, CEMI has experience with rapid syphilis diagnostics.
  • In this rapid serologic test, Chembio DPP HIV-Syphilis Assay detects antibodies to HIV and/or Treponema pallidum, the cause of syphilis.
  • Besides the DPP Syphilis Screen and Confirm test, Chembio has developed a DPP Syphilis Screen and Confirm test that uses improved liposomal preparation reagents licensed from the CDC.
  • As of now, clinical laboratories offer serologic tests to detect active syphilis, which require shipping samples to perform complex tests.
  • At the moment, there is no rapid point-of-care test that can perform both screening and confirmation of active syphilis at the same time.
  • By developing such a test, we can diagnose syphilis infections quickly and treat patients promptly, reducing the overall burden of the disease.

CEMI’s Rapid Test Platform for DPP:

By using a small drop of blood from the fingertip or alternative samples, Chembio’s proprietary DPP technology platform can provide high-quality, rapid diagnostic results in 15 to 20 minutes. DPP provides greater clinical value than other rapid tests because it can detect eight, distinct test results from a single patient sample through advanced multiplexing.

With its easy-to-use, highly portable, battery-operated DPP Micro Reader optical analyzer, Chembio offers accurate results in approximately 15 seconds for certain applications. This makes it an excellent choice for decentralized testing where patients can be clinically assessed while on-site with real-time results. In many rapid tests, visual interpretations of the results are required, which can lead to human error. The DPP Micro Reader produces objective results without this possibility.

What is the difference CEMI will make?

In order to diagnose and treat active syphilis in a timely fashion, CEMI will develop a highly sensitive and highly specific test. Syphilis can be prevented from spreading and developing severe complications when it is diagnosed and treated early and reliably.

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