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Atomo Diagnostics IPO massively oversubscribed, page-61

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Lefevre

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25/03/20

15:17

Post #: 43693681
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Originally posted by stumurray17: ↑

https://www.bloomberg.com/news/videos/2020-03-24/australia-s-atomo-seeks-to-produce-rapid-coronavirus-self-tests-video

Clearly a huge amount of demand for rapid home/GP Covid-19 test kits around the world and plenty of market share for multiple manufacturers.
There's also been a few rogue suppliers cropping-up without proper FDA approval. Atomo going the proper, regulated path with their OEM partners, so you'd think will be more strongly endorsed by government and evidence-based organisations.

John Kelly mentions rapid scaleup (4x) of their manufacturing facilities and potentially kits being shipped within weeks.

The HIV kit pipeline was already $110m, based on min OEM targets to maintain regional exclusivity. The Covid-19 opportunity could really put Atomo on the map for future applications but in the nearer term the margins are significantly higher than for HIV kits and it seems likely that testing will run into next northern hemisphere flu season, as a precaution.

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You would think that there would be massive stockpiling of corona testing kits from governments all around the world.
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