AnteoTech Share Price is Up on COVID-19 Test News (ASX:ADO)

By ,

The AnteoTech Ltd’s [ASX:ADO] share price is up 17% at time of writing after a clinical study shows AnteoTech’s COVID-19 test can meet WHO’s guidelines.

In today’s ASX announcement, nanotechnology company AnteoTech reported the outcome of its COVID-19 Antigen Rapid Test (ART) clinical laboratory validation study.

The market received AnteoTech’s ASX update well, with ADO shares up 17.7% at 1:45pm.

The market’s response to AnteoTech’s announcement reflects the strong investor support enjoyed by the company in recent months.

Year-to-date, the AnteoTech share price is up 152% and up more than 1,700% in more than a year.

ASX ADO Share Price Chart - AnteoTech Ltd SharesSource:

AnteoTech clinical study results

According to the company, AnteoTech’s Antigen Rapid Test detects the SARS-CoV-2 active virus that causes COVID-19.

Stay up to date with the latest investment trends and opportunities. Click here to learn more.

As a recent WHO report noted, rapid antigen detecting tests ‘may facilitate earlier diagnosis and required actions … in settings where RT-PCR is unavailable or turnaround times for results are slow.’

Overall, the study showed that AnteoTech’s COVID-19 ART sensitivity was 97.3% (179/184).

Out of 184 de-identified nasopharyngeal samples clinically diagnosed as positive for SARS-CoV-2, AnteoTech’s ART correctly detected 179 out of the 184 of them as positive.

The COVID-19 ART sensitivity was 99.6% (259/260).

Out of 260 samples clinically diagnosed as negative, AnteoTech’s COVID-19 ART correctly classified 259 of them as negative.

The study was conducted and reviewed by the Victorian Infectious Diseases Reference Laboratory (VIDRL), which is part of the Peter Doherty Institute for Infection and Immunity.

The Peter Doherty Institute led Australia’s research efforts when the virus first broke out and was the first to isolate and share the virus outside of China.

What is the significance of AnteoTech’s ASX announcement?

AnteoTech’s laboratory validation study was conducted to ‘demonstrate that the test meets the World Health Organisation’s recommended guidelines for COVID-19 antigen rapid tests.’

Why is this important?

Meeting WHO’s recommended guidelines will go a long way in securing a CE mark.

A CE mark indicates that a product was assessed by the manufacturer and met EU safety, health, and environmental protection requirements.

A CE mark is required for many products before they can be sold in the European Union.

Commenting on the clinical study results, AnteoTech CEO Derek Thomson said:

We are delighted to have achieved this significant milestone in the development of AnteoTech’s first COVID-19 ART.

The study enables us to be compliant with WHO guidelines for market use of our COVID-19 antigen rapid test and provides the data required for use in our CE regulatory submission.

ADO share price outlook

According to the World Health Organisation, there were more than 700 products released onto the market to detect SARS-CoV-2-specific nucleic acids, antigens, and human antibodies as of September 2020.

The space is crowded and not every product out of the more than 700 products out there will achieve market traction.

As we’ve pointed out before here in Money Morning, the big question is whether AnteoTech’s products will make it to market in time.

First-mover market advantage will be crucial in this space and with hundreds of products already launched, it is uncertain right now if AnteoTech will consolidate enough market presence.

That said, even if AnteoTech’s ART product doesn’t capture sufficient market share, acquiring WHO and CE mark approval can refine the company’s track record and show future customers that AnteoTech is a skilled nanotechnology company.

This may make it easier to market and sell ADO’s other products.

If smaller-cap stocks like AnteoTech interest you but you’re unsure how to find ones with great potential, then I think you will enjoy reading this free report on four high-value small-caps.

Small-cap investment is all about information advantage, so I highly recommend reading through the report.


Lachlann Tierney

For Money Morning

About Lachlann Tierney

Lachlann Tierney is an Analyst for Money Morning and has been investing for nearly a decade. With a Masters of Science from the London School of Economics, he brings a sound understanding of global markets to his writing. Lachlann is interested in emerging technologies, energy solutions and helping people invest…

Friday ASX News: Pointsbet, Weebit Nano, & Anteotech Shares in Focus

We examine the latest updates from Pointsbet Holdings [ASX:PBH], Weebit Nano [ASX:WBT], and AnteoTech [ASX:ADO].

AnteoTech Signs Distribution Agreement, ADO Shares Up 15% (ASX:ADO)

ADO share price is up as much as 18.9% in early trade, peaking at 22 cents. The AnteoTech (ASX:ADO) has signed a distribution agreement for its EuGeni reader and SARS-CoV-2 rapid diagnostic test in the Philippines. 

AnteoTech Share Price Up as It Unveils UK Distribution Deal (ASX:ADO)

Materials science company, AnteoTech (ASX:ADO), the ADO share price is up today. The stock is currently trading 8.89% higher, thanks to some good news regarding an ongoing product rollout.

AnteoTech Shares Down after Opening Higher, Here’s Why (ASX:ADO)

It’s been a wild day of trading for AnteoTech [ASX:ADO]. After opening higher, shares began to fall just an hour after trading. With the share price currently sitting at 32 cents, down 5.8%…

Why AnteoTech Share Price are up 11% Today (ASX:ADO)

After peaking at the end of April, nanotechnology stock AnteoTech Ltd [ASX:ADO] has been on a downward slide for most of May. But today, the ADO Share price has managed a turnaround. Up 11.67%…

Why the AnteoTech Share Price Fell 7% Today (ASX:ADO)

The AnteoTech Ltd [ASX:ADO] share price is down 7% today. Can ADO’s recent cash flow report explain the fall? ADO shares fell as much as 9.2% in early trade…