As testing turn-around time--the time it takes for a laboratory to test and deliver results--varies between 2-10 days for COVID-19 tests throughout the United States, Abbott Laboratories (NYSE: ABT) has developed a game changing solution to combat delays.
Authorized for emergency use by the U.S. Food and Drug Administration on Wednesday, Abbott's BinaxNOW portable coronavirus antigen test can deliver results within 15 minutes, dramatically increasing testing capacity and capabilities as the U.S. heads towards the incoming flu season.
The BinaxNOW test is the size of a credit card and requires no additional equipment for testing as it is based on the same technology used to test for the flu, strep throat, and other viral infections. The tests is also much cheaper than most already available tests, with Abbott offering it for only $5 each.
The tests also comes with an accompanying mobile iOS (NASDAQ: AAPL) and Android (NASDAQ: GOOGL) app, NAVICA, which will display post test health information. For those who test negative, the app will display a temporary digital health pass. For those that are positive, the patient receives notifications to self-quarantine and talk to their health care provider. The app does not contact trace.
"We intentionally designed the BinaxNOW test and NAVICA app so we could offer a comprehensive testing solution to help Americans feel more confident about their health and lives," said Robert B. Ford, Abbott president and CEO, in a release. "BinaxNOW and the NAVICA app give us an affordable, easy-to-use, scalable test, and a complementary digital health tool to help us have a bit more normalcy in our daily lives."
Inside the BinaxNOW test is a specially coated strip that interact with COVID-19 antigens. The patients nasal swab is taken by a health care professional and inserted into the card alongside a chemical solution. Within 15 minutes, symbols appear on the card to indicate whether or not the testing sample is positive or negative for COVID-19--similar to a pregnancy test.
Abbott expects to begin shipping tests in September, and aims to deliver about 50 million tests in October.
Testing Update
Centers for Diseases Control and Prevention (C.D.C.) Director Robert Redfield defended the agency's new testing policies on Thursday following criticism from various health and local government officials alleging that the decision may have been politically motivated.
On Monday, the C.D.C. revised its testing guidance to no longer recommend asymptotic individuals at risk to coronavirus exposure get a test unless instructed by their health care provider or local government official. The policy change was to help alleviate some of the laboratory pressure by eliminating what the agency now sees as unnecessary testing.
Released late Wednesday, Redfield issued in a statement: "Everyone who needs a COVID-19 test, can get a test. Everyone who wants a tests does not necessarily need a test; the key is to engage the needed public health community in the decision with appropriate follow-up action."
Redfield added italics in the written statement for emphasis, according to CNBC.
Nevertheless, state officials have come out against the new policies, with the New Jersey Governor Phil Murphy, New York Governor Andrew Cuomo and Connecticut Ned Lamont writing in a joint statement:
"This 180-degree reversal of COVID-19 testing guidelines is reckless, and note based on science and has the potential to do long-term damage to the institution's reputation...New York, New Jersey and Connecticut will continue to follow the advice of health experts to contain and prevent the spread of COVID-19, and therefore will not be changing our guidance that prioritizes testing for this populations."
California Governor Gavin Newsom separately stated that his state will continue to test asymptomatic individuals, for it is important for contact tracing and outbreak containment efforts.