Lumos Diagnostics posts record drop after U.S. FDA denies marketing clearance

Lumos Diagnostics Holdings

11/07/2022 01:33

** Lumos Diagnostics Holdings  LDX.AX  falls as much as
59.4% to A$0.067, marking its worst intraday fall since debut a
year ago
    ** Diagnostics solutions provider says the U.S. Food and
Drug Administration (FDA) advised LDX's FebriDx - a test to
detect acute respiratory infections - has not been granted
clearance for marketing in the United States (https://bit.ly/3RobQmw)
    ** FDA said there's risk that false negative viral infection
test could lead to further spread of COVID-19 infections
    ** LDX says "evaluating options to secure a potential
regulatory clearance by the U.S. FDA for FebriDx"
    ** LDX shares at their record low level; about 3.2 mln
shares change hands, vs the 30-day average of 1 mln shares
    ** LDX has been on a trading halt since Wednesday; stock
down 82% this year, as of last close

 (Reporting by Sameer Manekar in Bengaluru)
 ((Sameer.Manekar@thomsonreuters.com; Twitter: https://twitter.com/sameer_manekar))