Labcorp Launches First FDA-Approved RNA At-Home Colorectal Cancer Test Nationwide
LH is trading near its 52-week low of $241.81 (5.8% above the low) on elevated volume (2.0× avg).
Summary
Labcorp announced the nationwide availability of ColoSense, the first FDA-approved RNA-based at-home colorectal cancer screening test. This test, developed with Geneoscopy, is now covered for eligible Medicare and Medicare Advantage beneficiaries. It received FDA Breakthrough Device Designation and boasts 93% sensitivity for colorectal cancer, including 100% for Stage I. This launch significantly expands Labcorp's diagnostic portfolio, following other recent product introductions like NASHnext®, and addresses a critical public health need with an accessible, novel screening solution.
At the time of this announcement, LH was trading at $255.82 on NYSE in the Life Sciences sector, with a market capitalization of approximately $21B. The 52-week trading range was $241.81 to $293.72. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: PR Newswire.