PerkinElmer's T-Cell Select reagent kit gets FDA approval for automation of T-SPOT.TB test
PerkinElmer's T-Cell Select reagent kit has been approved by the US Food and Drug Administration for use in automating the company's T-SPOT.TB test workflow. The kit is designed to reduce hands-on time for laboratory personnel and lower overall costs. In a press release, the company stated that the reagent kit would allow for a more automated workflow, which would aim to reduce hands-on time for lab personnel and lower overall costs.
This test is used to diagnose tuberculosis infections. Currently, media sentiment towards PerkinElmer is mostly positive. On Thursday, the company's stock opened at $125.0 and closed at $123.2, down by 2.2% from its last closing price of $126.0. However, analysts believe that this dip is due to the overall market sell-off and not because of any specific news about the company.
PERKINELMER, Inc. is a global leader in providing instrumentation, software, and services for the life sciences, environmental and industrial markets. The company's products are used in a variety of applications, including drug discovery, environmental monitoring, food safety testing, and industrial manufacturing. PERKINELMER's fundamental strength lies in its long-term potential, as reflected in its strong financial performance. This growth has been driven by strong demand for the company's products and services, as well as by PERKINELMER's focus on innovation and new product development. Based on PERKINELMER's current share price, the fair value of the company's stock is around $150.4 per share. This is calculated using the VI Line, a valuation tool that takes into account the company's financial fundamentals and growth prospects. At its current price of $123.2 per share, PERKINELMER's stock is undervalued by 18%. This represents a good buying opportunity for investors looking to profit from the company's long-term growth potential.
The test is a key component of the company's efforts to develop a complete automated workflow for the diagnosis of tuberculosis. The kit is the first FDA-approved reagent for use with the T-SPOT.TB test and will be used to automate the test on the company's new TB EVOLUTION platform.