Lumos Diagnostics dips after U.S. FDA upholds marketing clearance denial

Lumos Diagnostics Holdings

03/10/2022 03:45

** Shares of Lumos Diagnostics Holdings Ltd  LDX.AX  fall as
much as 13.3% to A$0.052, biggest intraday pct loss since July
11 
    ** Diagnotics solutions provider says the U.S. Food and Drug
Administration upheld its previous decision denying marketing
clearance for co's FebriDx - a test to detect acute respiratory
infections - in the U.S. 
    ** Co had appealed against FDA's decision in July not to
grant marketing clearance for FebriDx as there were risks that 
false negative viral infection test could lead to further spread
of COVID-19 infections
    ** Stock at its lowest since Sept. 2
    ** Around 4.8 mln shares change hands vs the 30-day average
of 561,990 shares
    ** Stock has fallen 93.6% this year, as of last close 
 (Reporting by Echha Jain in Bengaluru)
 ((Echha.jain@thomsonreuters.com))