Waiting in the wings

The market provided slightly more than a tepid response to the FDA's clearance of the first home HIV test, which was developed by Chiron (CHIR) and Johnson & Johnson (see Commentary, A4). Other players in the home HIV testing market include Epitope (EPT) and ChemTrak (CMTR). The FDA told EPT in December that the agency was prepared to approve the OraSure product, subject to a satisfactory facilities inspection and submission and acceptance of certain additional information. Last month, the FDA said the inspection was satisfactorily completed, and now OraSure is awaiting the agency's final review. In February 1995, CMTR filed a PMA for its home access HIV test.

Over the course of the week, CMTR made a spate of announcements, including a 510(k) filing (page B4), and a Japanese distribution deal (B5). The stock gained $1.125 (28 percent) to close at $5.125. CHIR gained $3 to close at $96.75, while EPT shed $0.25 to close at $18.625...