On May 9, Cue Health Got Warning Letter From FDA; Says During Inspection, Investigator Determined Cue Health Markets, Distributes Cue Health Covid-19 Test & Cue Health Covid-19 Test For Home & OTC Use
Portfolio Pulse from Benzinga Newsdesk
Cue Health received a warning letter from the FDA on May 9, stating that during an inspection, it was determined that Cue Health markets and distributes its Covid-19 test for both professional and over-the-counter (OTC) use.
May 13, 2024 | 4:39 pm
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NEGATIVE IMPACT
Cue Health's receipt of an FDA warning letter for improperly marketing its Covid-19 tests could negatively impact investor confidence and potentially affect its stock price in the short term.
Receiving a warning letter from the FDA is a significant regulatory hurdle, indicating potential compliance issues with Cue Health's Covid-19 tests. This could lead to investor concerns about the company's ability to market these products effectively, possibly resulting in a negative short-term impact on the stock price.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90