Quidel Shares Rise on FDA Approval of Claims

Quidel Corp.’s shares rose 24% after the company said U.S. regulators would allow it to claim higher accuracy rates for a test used in doctors’ offices to diagnose the flu.

The Food and Drug Administration approved San Diego-based Quidel’s application to update the prescribing information for the QuickVue Influenza A+B test, the company said. New studies show it spots 94% of influenza A infections in 10 minutes using nasal swabs, up from 72% cited on the current label, spokesman Paul Landers said.

Quidel shares rose $2.29 to $11.76.