As confirmed by the Cepheid, the company has been awarded Emergency Use Authorization from the US Food and Drug Administration for its H1N1 influenza assay, to be marketed and distributed as Xpert Flu A Panel.

The new test runs on the firm's GeneXpert System platform and successfully identifies the H1N1 influenza virus lurking around in just under an hour.

The FDA can only grant emergency approval to treatments and drugs for the duration of emergency, and the H1N1 emergency is, as of now, set to expire on April 26, 2010, unless it is terminated before that or renewed and extended.

Cepheid, encouraged by the success, has shared that it will continue to develop an expanded "influenza panel product", and a separate marketing application is expected this year itself.

On Thursday, shares of the company recorded the last trading value of $12.48.