American Bio Medica Corp (ABMC)

[funnyG986]

This is a great news for ABMC. Abbott is the 1st one to get the EUA approved. There are more approval on the way. ABMC will be one of them to get approved. Check this article from yesterday.

FDA greenlights COVID-19 point-of-care test

https://finance.yahoo.com/news/fda-greenlights-first-covid-19-pointofcare-test-from-abbott-234449283.html?from=singlemessage&isappinstalled=0

If you read this article, you will see Abbott can only produce 1M test kit per month, which is far from enough to serve New York alone.


For the US, we probably need close to 50M to 100M test kits in the coming two months. I live in California, there is no way for me to ask for test because there is no test available.

Do you know why Apple released the pre-screening app yesterday ?https://apps.apple.com/us/app/id1504132184
Because we don't have enough test kits to cover all of us.

$2 billion market in 6 months in US alone. Assume 1% penetration from ABMC makes $20M USD revenue in 6 -12 months.

My only concern is whether they can keep up the production.

ABMC should be trading $0.5 range in two to three weeks. Mark my words.