Lucira Health Shares Drop 28% After Big Jump Tuesday

By Chris Wack

Lucira Health Inc. shares were down 28% at 43 cents, one day after the company said it submitted an Emergency Use Authorization application to the Food and Drug Administration for over-the-counter use of its at-home molecular Covid-19 and flu test.

The stock closed Tuesday's session up 440%, but is still down 63% in the past three months.

Lucira's test for Covid-19 and flu was granted Emergency Use Authorization for Point-of-Care use in a healthcare setting in November 2022.

In seeking OTC authorization, Lucira intends to make the test broadly available to consumers both online as well as in pharmacies. Lucira said it worked closely with the FDA to complete additional testing to demonstrate that the test could be used by consumers at home.

Lucira at-home Covid-19 test users will have access to Lucira Connect, which allows them to scan their test result with their smartphone, and if positive, join an immediate and free telehealth visit to get treatment without leaving home.

Upon authorization of the test, Lucira test users will be able to learn if they are sick with Covid-19 or influenza, talk to a doctor about treatment, and access the appropriate prescription within hours.

Write to Chris Wack at chris.wack@wsj.com

(END) Dow Jones Newswires

January 04, 2023 10:35 ET (15:35 GMT)

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