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OPK Stock Rockets 13% Higher on Coronavirus Test Announcement

Opko Health (NASDAQ:OPK) is seeing OPK stock head higher on Friday following an announcement concerning a test for the coronavirus from China.

OPK Stock Rockets 13% Higher on Coronavirus Test Announcement

Source: Shutterstock.com

According to the company, it is planning to offer coronavirus testing. This will allow it to determine if people have the virus. It will also greatly expand the locations across the U.S. where patients can take part in such a test.

The Opko Health news boosting OPK stock today notes that it will begin coronavirus testing next week. This will follow it acquiring specimens for testing. The company is working with the U.S. Centers for Disease Control and Prevention, the World Health Organization to develop and distribute these tests.

Opko Health won’t be handling the coronavirus testing itself. Instead, the company will be leaving it to BioReference Laboratories. This is a health company that belongs to Opko Health.

Jon R. Cohen, M.D., Executive Chairman of BioReference Laboratories, said this about the news moving OPK stock.

“COVID-19 testing is imperative in aiding front-line healthcare professionals and public health authorities to identify infected patients more quickly, limit the spread of infection and promote earlier diagnosis and treatment. We want to specifically recognize how engaged and responsive HHS, the CDC and the FDA have been in helping us navigate quickly through the scientific and regulatory issues necessary to make testing available as soon as possible to the U.S. population.”

OPK stock was up 13.35% as of Friday afternoon.


Article printed from InvestorPlace Media, https://investorplace.com/2020/03/opk-stock-rockets-higher-on-coronavirus-test/.

©2022 InvestorPlace Media, LLC