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OraSure woes

This article was originally published in The Gray Sheet

Executive Summary

A Los Angeles clinic says it will stop using the OraQuick Advance rapid oral HIV test due to a number of false positive test results, which caused the firm's stock price to drop over 20% Dec. 16 from a Dec. 15 close of $11.37. Similar false positive results from clinics in New York and San Francisco have also been reported. The firm is working with health departments where the false results were reported, but stressed that the test is intended as an initial screening device and that labeling instructs those with positive results to seek further testing. OraSure received another blow Dec. 14 when the House approved a measure stripping language from the HHS appropriations bill that would have directed HHS to buy one million rapid oral HIV tests...
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