Is AM Diagnostics listed on the ASX?

Woman prepares to insert a swab in her nose to test for COVID-19 at home.

AM Diagnostics has been on the radar of many ASX-watchers recently.

Particularly, after at-home COVID-19 antigen rapid tests, supplied by the Perth-based Australian company, received approval from the Therapeutic Goods Association (TGA) this week.  

Australians might be able to choose between one of three at-home COVID-19 rapid antigen tests from 1 November. All three are supplied by AM Diagnostics and provide results within 15 minutes.

AM Diagnostics leads Australian at-home testing

According to reporting by The Australian, the TGA’s thumbs-up means Australians might soon be able to buy rapid COVID-19 tests at supermarkets, pharmacies, and other easy-to-access locations.

Two of the approved tests provide results from oral fluid, requiring a user to spit into a tube to learn their COVID-19 status. The other provides results using a nasal swab.

The tests state they are accurate 97% to 98% of the time.

Can you invest in AM Diagnostics on the ASX?

Understandably, many ASX investors are currently wondering how to get a piece of AM Diagnostics into their portfolio.

Unfortunately, there isn’t good news for those looking to invest in the manufacture and distributor of medical and diagnostic equipment.  

AM Diagnostics is registered as a private company with the Australian Government. Thus, investors can’t buy shares in AM Diagnostics on the ASX.

However, there are several companies that might peak the interest of would-be-AM Diagnostics investors.

Atomo Diagnostics Ltd (ASX: AT1), for instance, is the developer of the CareStart EZ COVID-19 rapid antibody test.

The company’s at-home test has been authorised by the US Food and Drug Administration for emergency use.

Another ASX-listed share involved in the COVID-19 home testing market is AnteoTech Ltd (ASX: ADO).

AnteoTech has partnered with unlisted Brisbane-based company, Ellume, to provide its AnteoBind technology for Ellume’s at-home COVID-19 tests.

The post Is AM Diagnostics listed on the ASX? appeared first on The Motley Fool Australia.

Wondering where you should invest $1,000 right now?

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes could be the five best ASX stocks for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now.

*Returns as of August 16th 2021

More reading

Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

from The Motley Fool Australia https://ift.tt/3BILymx

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s