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Diagnostic Substances

Chembio Diagnostics Inc (CEMI) is a publicly-traded biotechnology company based in the United States, focused on the development, manufacturing, and commercialization of diagnostic solutions. The company's primary focus is on point-of-care (POC) tests, which aim to provide rapid, accurate, and cost-effective diagnostic results. Chembio's product portfolio includes tests for various infectious diseases, such as HIV, Syphilis, Hepatitis, and Zika, among others.

Here's a summary of Chembio Diagnostics Inc. (CEMI) with a focus on its recent financial performance and growth:

1. Revenue:

Chembio Diagnostics has experienced some fluctuations in revenue over the past few years. According to the company's financial statements, the revenue for the fiscal year 2021 was $27.2 million, which represents a decline of approximately 18% compared to the revenue in 2020, which was $33.1 million.

2. Net Income (Loss):

Chembio Diagnostics' net income has been negative in recent years. The net loss for the fiscal year 2021 was $15.3 million, compared to a net loss of $7.5 million in 2020 and $13.8 million in 2019.

3. Earnings Per Share (EPS):

Given the company's net losses, EPS is negative. The EPS for fiscal year 2021 was -$0.48, compared to -$0.23 in 2020 and -$0.45 in 2019.

4. Cash & Cash Equivalents:

As of December 31, 2021, Chembio Diagnostics reported cash and cash equivalents of $15.5 million, compared to $11.4 million as of December 31, 2020.

5. Market Capitalization:

Currently, Chembio Diagnostics Inc. has a market capitalization of approximately $22.2 million (as of March 22, 2023).

6. Recent Developments:

In February 2023, Chembio announced it had entered into a strategic partnership with a company named NOWDiagnostics, Inc, aimed at expanding their POC diagnostic testing capabilities and market reach.

While the company has had a challenging financial performance in recent years, it's essential to consider that the diagnostic industry is constantly evolving. Chembio Diagnostics has partnerships, a diversified product portfolio, and the potential to capitalize on new business opportunities in the diagnostic market. Additionally, it's crucial to consult with a financial advisor or conduct further research before making any investment decisions related to CEMI or any other stock.