There’s fear the U.S. economy reopened far too quickly. Dr. Anthony Fauci just said parts of the U.S. are seeing a “disturbing surge” in coronavirus infections. In fact, according to CNBC, cases are growing by 5% or more in 26 states, including Arizona, Texas, Florida and Oklahoma. Coronavirus hospitalizations are on the rise as well.”
Worse, according to former US FDA Commissioner, Dr. Scott Gottlieb, “The question is ‘can we keep this from getting out of control.’ This is a virus that wants to infect a very large portion of the population,” Gottlieb told CNBC. “They’re on the cusp of losing control of those outbreaks in certain parts of those states. Arizona, Houston, Austin, parts of Florida certainly look very concerning right now.”
On top of that, the World Health Organization just issued a new pandemic warning. “The pandemic is still accelerating,” WHO’s director general Tedros Adhanom Ghebreyesus said. “We know that the pandemic is much more than a health crisis, it is an economic crisis, a social crisis and in many countries a political crisis. As the U.S. just begins to see signs of worsening virus trends, we’ll need millions of new test kits. In Arizona, for example, demand for tests is now twice the capacity of the state’s key lab, as reported by Reuters.
As the situation worsens, the world will need millions of test kits creating opportunity for companies such as Datametrex AI Limited (TSXV:DM)(OTC:DTMXF), Laboratory Corp. of America Holdings (NYSE:LH), Abbott Laboratories (NYSE:ABT), Quest Diagnostics Inc. (NYSE:DGX), and Chembio Diagnostics Inc. (NASDAQ:CEMI).
Datametrex AI Limited (TSXV:DM)(OTC:DTMXF) BREAKING NEWS: Datametrex AI Limited just announced that the Company has completed shipping the second 10,000 purchase order of COVID-19 test kits to a Canadian based mining company with operations worldwide. The total gross sales amount is approximately $500,000 CDN, excluding shipping fees. Datametrex anticipates that it has little or no upfront costs associated with the sale of these test kits. All of the items are shipped from manufacturers to the purchaser's mine operating sites in Ontario and Quebec.
Under the terms of the PO, Datametrex provides them with an intial 10,000 units of the COVID-19 qPCR Detection Kits manufactured by 1drop Inc., 10,000 Univesal Transport Medium (UTM®), Sterile Swabs with 16x100mm and Skirted Tubes. The Company also shipped two (2) Real-Time Polymerase Chain Reaction Detection System machines along with software to ensure optimal assay performance of the samples.
Other related developments from around the markets include:
Laboratory Corp. of America Holdings (NYSE:LH) announced that Covance, its drug development business, has created COVID-19 Clinical Trial Connect in the U.S., a site designed to help people access information about how to participate in COVID-19 research. “Through COVID-19 Clinical Trial Connect, our goal is to link people interested in these clinical trials with sponsors so that together we may find solutions for this global pandemic,” said Michael Brooks, president, Clinical Development and Commercialization Solutions, Covance. “There are currently hundreds of COVID-19-related clinical trials underway or planned to begin in the near future, and we recognize that many patients may not know how to go about finding information about a clinical trial. With our COVID-19 Clinical Trial Connect, we’re helping bridge the gap. We are thrilled to have the capability to directly engage with patients who would not otherwise be aware of ongoing trials and give them the opportunity to consider participation, especially at this time.”
Abbott Laboratories (NYSE:ABT) announced an interim analysis of an ongoing multi-site clinical study in urgent care clinics that indicates its ID NOW COVID-19 rapid test is showing strong agreement to lab-based molecular polymerase chain reaction (PCR) instruments. The interim results are demonstrating ID NOW COVID-19 test performance is ≥94.7% in positive agreement (sensitivity) and ≥98.6% negative agreement (specificity) when compared to two different lab-based PCR reference methods. Data from this, as well as two other Abbott-sponsored studies – The Everett Clinic in Washington and an ongoing study of hospitalized and nursing home patients – suggest ID NOW performs best in patients tested earlier post symptom onset, when they are most likely to go for care. In these studies, ID NOW was used as intended with variations in patient populations based on the number of days a patient was tested after first experiencing symptoms. "We're pleased that ID NOW is delivering on what it was designed to do – quickly detect the virus in people who need to know now if they're infected," said Philip Ginsburg, M.D., senior medical director, infectious disease, Rapid Diagnostics, Abbott. "This is great news for people who are experiencing symptoms and want to take action before they infect others, reducing the spread of infection in society."
Quest Diagnostics Inc. (NYSE:DGX) announced the formation of a definitive multi-pronged agreement designed to optimize the delivery of high quality, innovative diagnostic laboratory services in Indiana. Through this all-cash equity transaction, Quest will acquire its joint venture partners' interests in Mid America Clinical Laboratories and operate the business by itself. Formed about 20 years ago as a joint venture company by Quest Diagnostics, Ascension St. Vincent and Community Health Network, MACL is now the largest independent clinical laboratory provider in Indiana. Upon closing, Quest will wholly own MACL's laboratory in Indianapolis and approximately 50 patient service centers across Indiana. As part of the transaction, Quest will also provide professional hospital lab services under long-term service agreements for approximately 30 hospital labs owned and operated by Ascension St. Vincent and Community Health Network. AmeriPath Indiana will continue to provide specialized pathology services to CHN and Ascension St. Vincent as well as to the broader community in Indiana.
Chembio Diagnostics Inc. (NASDAQ:CEMI) announced it has received U.S. Food and Drug Administration (FDA) 510(k) clearance to market the DPP Zika IgM System. The Chembio DPP Zika IgM System is intended for the presumptive qualitative detection of Zika virus IgM antibodies in human serum, potassium-EDTA plasma, potassium-EDTA venous whole blood, or fingerstick whole blood specimens, collected from individuals meeting the CDC Zika virus clinical criteria (e.g., a history of clinical signs and symptoms associated with Zika virus infection) and/or CDC Zika virus epidemiological criteria (e.g., history of residence in or travel to a geographic region with active Zika transmission at the time of travel, or other epidemiological criteria for which Zika virus testing may be indicated). Additionally, this clearance represents the initial U.S.regulatory approval for the DPP Micro Reader. The DPP Micro Reader is a handheld portable analyzer that produces numerical results from Chembio DPP tests and is compatible with the entire portfolio of Chembio DPP tests. The DPP Zika System, which includes the DPP Zika IgM Assay and DPP Micro Reader, detects IgM antibodies from a 10uL fingerstick blood sample and provides numerical results after 15 minutes of sample incubation and 15 seconds of test read time.
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