LHDX - LHDX STOCK NEWS

Lucira Health has received FDA emergency use authorization for its COVID-19 & Flu Home Test, the first test of its kind allowing at-home diagnosis for both viruses. This test provides lab-quality results within 30 minutes from a single nasal swab. The product emerges as a significant breakthrough, addressing the need for fast, effective diagnostic solutions for conditions with similar symptoms. Despite the positive news, Lucira disclosed having filed for Chapter 11 bankruptcy, which raises concerns about its ability to resume manufacturing and further product development. The company is currently seeking a strategic or financial partner to support its future endeavors.

Lucira Health (Nasdaq: LHDX) has filed for Chapter 11 bankruptcy in Delaware, initiating a process to sell its business. The company, which experienced growth during the COVID-19 pandemic, reported its first positive net income in Q1 2022. However, declining demand for tests and delays in FDA approval for a new combined test kit have resulted in insufficient revenue, prompting the bankruptcy filing. Lucira plans to continue operations using available cash during this process and has filed motions to sustain business operations, including employee payments and honoring customer commitments.

Sesame and Lucira Health have announced a partnership to enhance access to affordable COVID-19 testing and treatment. Customers purchasing Lucira's at-home test for $29 will receive a complimentary telehealth consultation through Sesame, enabling immediate treatment options. Results are 98% accurate and delivered in under 30 minutes. If positive, users can consult a Sesame clinician within two hours for potential prescription needs. This program aims to provide quick, reliable healthcare solutions while addressing urgent testing needs across the nation.

Lucira Health (LHDX) has launched the Lucira Connect program in Canada, providing a telehealth consultation with every at-home COVID-19 and Flu test purchase. For $98 CAD, Canadians can access PCR-quality testing with results in under 30 minutes and a free virtual consultation for positive cases. The program aims to simplify healthcare access, especially in British Columbia, Ontario, and Alberta, with plans for expansion. This partnership with Medi-Call enhances patient access to treatment options through an independent medical professional, reflecting Lucira's commitment to innovative healthcare solutions.

Lucira Health (LHDX) has submitted an Emergency Use Authorization application to the FDA for over-the-counter (OTC) use of its at-home molecular COVID-19 and Flu test. This follows a previous authorization for point-of-care use granted in November 2022. The test differentiates between COVID-19 and influenza, enabling users to access timely telehealth consultations for treatment. The product, designed for consumer use, runs on AA batteries and provides results in under 30 minutes. Lucira aims to enhance accessibility and accuracy in infectious disease diagnostics.

Lucira Health has received emergency use authorization (EUA) from the FDA for its COVID-19 & Flu Test, which provides PCR-quality results in 30 minutes or less from a single nasal swab. The test can yield a positive result in just 11 minutes and can be used in CLIA-waived settings, facilitating rapid diagnoses amidst co-circulating respiratory viruses. This test aligns with Lucira's mission to enhance accessibility to high-quality diagnostics.

Lucira Health, Inc. (Nasdaq: LHDX) has launched Lucira Connect, a virtual care program allowing users to access telehealth consultations and treatments from home for $29. The program includes a lab-quality, at-home COVID-19 test with a 98% accuracy rate, delivering results in under 30 minutes. If positive, users can consult with medical professionals to discuss treatment options. Lucira has partnered with Pfizer to improve awareness of COVID-19 risks and treatment options through educational resources on the Lucira Connect platform.

Lucira Health (LHDX) reported a strong third-quarter 2022 with net revenue of $34.4 million, marking a 130% increase year-over-year. However, the company faced a GAAP gross loss of $99.6 million compared to a $1.5 million loss in Q3 2021, attributed to excess inventory charges. Operating expenses rose to $26.7 million. The company launched a combination COVID-19 and flu test in Canada and partnered with Pfizer and Sesame Care to enhance service delivery. Lucira has $39.8 million in cash as of September 30, 2022.

Lucira Health will report its third quarter 2022 financial results on November 14, 2022. A conference call and webcast will take place at 1:30 p.m. PT / 4:30 p.m. ET to discuss these results and provide a corporate update. The company specializes in developing innovative infectious disease tests, including the Lucira COVID-19 & Flu test, which offers rapid results for COVID-19 and flu in under 30 minutes. Lucira is also pursuing Emergency Use Authorization for the at-home version of this test.