AT1 - Atomo Diagnostics

[Knobby22]

I am reading of the failure of some brands of rapid test devices including Australia wasting millions on one device.
How good is this product? If it does work, a great chance to break into markets?

 

[TheSneakyOne]

I am reading of the failure of some brands of rapid test devices including Australia wasting millions on one device.
How good is this product? If it does work, a great chance to break into markets?

From my understanding there are companies that have created tests and they've never really made tests before. I've read that some of them their main business is car tyres.

Atomo's device was for HIV and had been tested long before Covid19, and have approval for home use for HIV testing in Australia which no one has ever done before. So as for me i'm quite confident that the product itself is of good quality.

They're limited by production at the moment, and have long term contracts with Mylan, and NG Biotech (small company), and NG Biotech have enlisted the help of Eurobio to market their products in Europe, so they're set up, but just a production issue at the moment.

Tests are being done in a France region at the moment using us, looking eagerly to see the results of that.

In saying that it's a race, and never know what could happen. But i'd put my money on Australian medical quality standards over most other's in the world.

 

[frugal.rock]

Revision required, to do list.

Announcement today.

Atomo Diagnostics and Access Bio partner to expand access to
COVID-19 blood-based rapid testing in North America
Atomo Diagnostics Limited (ASX: AT1) (Atomo) announces:
 Atomo executes agreement to enter the North American market
 Revenue sharing on sales of finished products with a minimum sales
commitment of 2 million units by 30 September 2021

 

[aus_trader]

This announcement is certainly going to bring attention to this company, since there is some solid traction with it's COVID-19 test kits coming into play rather than all hot air and bluff:

I have entered this stock for August Stock Picking Competition to test my luck...

 

[Dona Ferentes]

Watch the FOMO drive this to ultra-stonk levels when it lists! There will be a near total disconnect between value and price. Good traders will have a field day.

and so it came to pass.

Pass

 

[galumay]

and so it came to pass.

All too often the case with IPO's. I take no pleasure from having warned of this as a possible outcome with this business, I hope no one here has lost money as a result. It is a pertinent reminder of conflating narrative with analysis. Most of the thousands of companies that have failed had a good story in the beginning!

 

[Dona Ferentes]

All too often the case with IPO's. .... It is a pertinent reminder of conflating narrative with analysis. Most of the thousands of companies that have failed had a good story in the beginning!

The thread is a good read.

 

[aus_trader]

Good analysis guys. I thought there was some possibility this was the right stock at the right time. I mean making COVID-19 test kits in the middle of the COVID pandemic ! I even tipped it for the monthly competitions, only to see it going backwards.

Share price tells the actual story and I guess @galumay was onto it right from the start.

 

[galumay]

Lot of luck in that @aus_trader, i will be wrong many more times than I am right. Hopefully I present a way of looking at investing that has some different aspects to it. That way new investors get to learn that there are many different approaches to investing, and the main thing is finding a style, strategy & process that matches your personality and sticking with it.

There are plenty of members here that have made a lot more money than me, using very different processes to me.

 

[peter2]

I agree that this thread has been a great read. I'm pleased that @galumay was willing to post his opinions, followed up by @Knobby22. A newly listed company has no historical price data so there's nothing to analyse for a chart based trader. However as the price history is unfolding my opinion is that there's nothing bullish about it at all.

Since listing, price has gone down. That's not good. There's been a three wave move higher that I describe as corrective. This indicates more downside and this has unfolded. Price has now been falling for six months. There's nothing bullish about this price chart.

Things can change but it must start with the company. Business must improve before the longer term investors start buying. Once they start buying, a chart based analyst will see it and a chart based trader will wait for a low risk ,good reward setup.

Edit: I should add that a good story, narrative, business outlook, doesn't sway a good fundamental investor. It doesn't mean a thing to a chart trader either. The good stories only suck in the lazy gamblers.

Once the business fundamentals improve, the investors and traders will notice.

 

[greggles]

KOSDAQ listed Access Bio Inc. has announced that it is using Atomo's integrated rapid diagnostic test (RDT) device as part of a COVID-19 antibody test that has now received Emergency Use Authorisation (EUA) from the U.S. Food and Drug Administration (FDA for point-of-care use.

Access Bio's CareStart™ EZ COVID-19 IgM/IgG test is using its own COVID-19 antibody test strip with the Atomo testing device. There is no information in either announcement released by AT1 or Access Bio that details how many devices Atomo will be supplying to Access Bio.

Still, it demonstrates that the RDT device developed by Atomo can be used for a variety of different tests and potential applications in other medical and research settings.

Atomo’s Managing Director John Kelly said, “We are happy that our integrated test device has enabled Access Bio to secure EUA for point-of-care use for the test and for it to be used in a broad range of non-laboratory settings in the United States, and we look forward to expanding our partnership with Access Bio to include other jointly developed tests in the coming years”.

It seems to me this device could end up having quite a large market for it, depending on the state of any competition and the price it will cost any company wising to use it as part of their tests.

It's been a long share price slide for AT1 over the last couple of years. Could things be finally turning around for them?

 

[Dona Ferentes]

Access Bio's CareStart™ EZ COVID-19 IgM/IgG test

- I hope there's an acronym for that

 

[peter2]

Selection for the Aug 2021 monthly comp.

Price seems to be picking up on the weekly chart. There should be more interest in AT1's point of care Covid-19 antibody test. The recent lockdowns and additional restrictions on workers requiring them to test for Covid-19 more often should be a golden opportunity for AT1. Of course they've got to jump through the TGA's hoops. AT1 isn't the only company trying to get their antibody test through TGA approval.

 

[frugal.rock]

The recent lockdowns and additional restrictions on workers requiring them to test for Covid-19 more often should be a golden opportunity for AT1.

Have noted in mainstream media news lately mentions of potential future rapid testing take up.
Again, as a country, we seem to lagging again...
I guess in Australia, first TGA approved, cheap and reliable kit will be a winner. Will it be AT1 ?

TGA is probably quite leaky.

 

[frugal.rock]

Noticed this getting a bit frisky yesterday.
It would appear the trend is in and things may heat up if it clears 0.25
Any good news before month end could have P2 yeehawing, otherwise 0.30 would appear to be the ceiling for now.

 

[Garpal Gumnut]

I note this little googlie egg has had a few announcements of late, and today. A lateral flow HIV test has been approved by the TGA for sale.

The chart shows an ascending triangle and is nudging a move up imo.

In the small print of today's announcement is a note that the Pharmacy Guild which is led by a Professor has assisted AT1 with their application. I would imagine the kits will be available through pharmacies.

Will a lateral flow test for Covid be next? The Pharmacy Guild are a good mob to have onside.

I'll pick it for the November Comp if it is not already taken.

gg

 

[frugal.rock]

Chart update out of interest only.
Not held.

 

[frugal.rock]

Am wondering if Atomo even have a Rapid Antigen test kit TGA approved and on the market yet?

Does anyone know?

 

[barney]

Long time between drinks for this battler, and a lot of punters would have done their shirts previously ...... often the time to buy a few??

Spec medico stocks are not something I'm personally keen on, but the chart action is "interesting".