Orasure stocks take off after product receives FDA approval

Jamie Dimon and JPMorgan Chase may be envious of the climb in value of Orasure Technologies Inc. (NASDAQ:OSUR) stocks, as the company benefited from the recent approval granted by the FDA for its take-home HIV test, The Associated Press reported.

The company saw a number of investors rush to its micro cap stock following the announcement by the FDA, and this approval was applauded by a number of groups within the medical community.

"Over-the-counter testing has the potential to reach a far greater number of people who want to know their HIV status on their own terms," Tom Donohue, founder of HIV awareness group Who's Positive, told the news outlet.

Following a surge in trading on May 15, the company's stock still rose in value in morning trading on Wednesday. Orasure was trading at $11.19 at 10:41 a.m., up $2.03 or 22.31 percent per share.

A company press release noted that Orasure was working closely with the FDA to secure approval, which was granted after the Blood Products Advisory Committee gave the agency the final go-ahead.

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