(Yicai) May 8 -- Andon Health’s shares soared by their 10 percent daily trading limit after the Chinese medical devices maker said US regulators had given the go-ahead for its latest respiratory viruses test kit.

Andon’s stock price [SHE: 002432] closed at CNY46.92 (USD6.49) in Shenzhen today.

Following the success of its previous Covid-19 testing product in the US market, the firm’s shares soared in value by almost 25 times from November 2021 to April 2022. Since then they have roughly halved.

The US Food and Drug Administration has given emergency use authorization to the new test kit developed by Andon’s US unit iHealth Labs, the Tianjin-based company said in a statement at midday.

The over-the-counter kit can test for novel coronavirus, Influenza A and Influenza B. It works for people aged two and above, the firm said, adding that it involves nasal swabs and the results can be seen in 15 minutes. 

Following the FDA’s authorization, the product can be sold in the United States as well as in countries and regions that recognize the FDA’s EUA, Andon also said. It will be available through online retailers, drugstores, and supermarkets.

Editor: Tom Litting