LabCorp said on Tuesday its at-home coronavirus testing kit had won U.S. authorization and it would prioritize distribution for health-care workers who may have been exposed to the virus or are symptomatic.
Shares of LabCorp were up 4.4% at $152 in premarket trading, after the company said it expects to make the test kits available to customers in the United States in the coming weeks.
LabCorp's test, authorized through the U.S. Food and Drug Administration's emergency use pathway on Monday, allows people to collect nasal swab specimens at home and mail the samples to labs, reducing the risk of transmitting the virus to physicians.
The United States has been working to increase its testing capacity as it contends with an onslaught of infections, with over 746,000 cases and more than 39,000 deaths.
Diagnostics companies have been launching their own kits to expand testing, and tests of at least 12 such companies are being used or allowed for use in the United States.
LabCorp had launched its lab test for COVID-19 early in March and currently conducts nearly 55,000-65,000 tests a day and offers results within two to four days.