Friday, August 28, 2020

Screen Shot: Abbott's FDA Antigen Approval and Share Price

This week's news that Abbott had snapped up FDA approval for a very rapid, inexpensive COVID antigen test had a big impact on Wall Street.  Abbott's share price popped from $103 to $111, meaning their market cap popped from $183B to $197B, a rise of about $15B of market value.  

For comparison, that's the market value of about 15 Myriad Genetics, or one Labcorp.

Genomeweb has what looks like an open access article on share price movements of COVID related diagnostics in the past couple days - here.