Precipio Inc. (NASDAQ: PRPO) stock soared by 171.98% at last close while the PRPO stock price continues to rise by 36.36% in an after-hours trading session. Precipio has created a program that aims to eliminate misdiagnosis by using the intellect, experience, and technologies gained within academic institutions by providing high-quality diagnostic information to physicians and their patients around the world, as well as proprietary goods that support laboratories around the world.
PRPO unveiled on May 3, 2021 that it had finally deployed its COVID-19 rapid antibody test (20 minute) on Amazon.com’s business platform, which tests for both IgG and IgM antibodies. Precipio has sole distribution rights for this item on Amazon’s platform. The antibody test, which is made in the United States by Nirmidas Biotech in California, was the first point-of-care test to be granted emergency use authorization (EUA) by the FDA.
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According to the EUA approval obtained for the test kit in December 2020, this PRPO’s device is now available for purchase on Amazon’s website and app, while it can actually only be bought by eligible medical point-of-care (POC) providers. Doctors and other health institutions will now order these products directly from Amazon and have them delivered in two business days.
This test by PRPO is used to detect the existence of antibodies that have formed after a person has been infected with the virus or has been vaccinated against it. Antibodies are the body’s own biological reaction to an infection or vaccine, and their formation kicks off the body’s mechanism of developing immunity to shield against future pathogens.
Knowing whether or not anyone has antibodies has two major advantages. Individuals who were inadvertently infected or who are aware that they were infected will first decide whether they have such antibodies. This test provides a platform that can offer additional detail to those who are debating whether or not to get vaccinated. Second, people who have been vaccinated will use the test and see whether their vaccine was effective and whether the antibodies tested have lasted across time.