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The Inside Scoop on American Bio Medica Corporation (OTCMKTS: ABMC)

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American Bio Medica Corporation (OTCMKTS: ABMC) has seen a fast move up the charts after the Company announced it has begun offering on March 17, 2020, via a distribution partnership, a Rapid Test to detect Covid-19 in whole blood, serum or plasma. The assay offers qualitative and differential detection of IgG and IgM antibodies to the 2019 Novel Coronavirus (Covid-19) and provides results in as few as 2 minutes and generally not more than 15 minutes. The test has not yet been reviewed by the U.S. Food and Drug Administration (FDA), but is being offered under the March 16, 2020 guidance set forth by the FDA.

According to American Bio the test can be used for rapid screening of carriers of the virus that are symptomatic or asymptomatic and can be used across many markets including hospitals, clinics, and by employers and correctional institutions. The test is not available for consumer use and will be marketed in full compliance with the FDA guidance, including the required labeling indicating that antibody testing should not be used as the sole basis to diagnose or exclude a Covid-19 infection. To place an order review the Companies promotional materials.

American Bio Medica Corporation (OTCMKTS: ABMC) says it manufactures and markets accurate, cost-effective immunoassay test kits, primarily point of collection tests for drugs of abuse. The Company and its worldwide distribution network target the workplace, government, corrections, clinical and educational markets. The Company says it has been an industry leader in drugs of abuse testing for over 30 years. We focus on innovation so that we can consistently provide our customers with state of the art products and exceptional customer service.  The market continues to evolve and we are committed to staying ahead of the curve and providing our customers with dependable, accurate, easy to use tests.  We have also developed exclusive configurations that test for the newest trends in drug abuse which includes buprenorphine, fentanyl, oxycodone, tramadol, ketamine, K2 (spice), methadone and more.

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ABMC

ABMC released an 8k on March 23 along with the press release stating: Kinderhook, N.Y., March 20, 2020 – American Bio Medica Corporation (OTCPK: ABMC), a manufacturer of accurate, cost-effective immunoassay test kits, announced today that it began offering on March 17, 2020, via a distribution partnership, a Rapid Test to detect Covid-19 in whole blood, serum or plasma. The assay offers qualitative and differential detection of IgG and IgM antibodies to the 2019 Novel Coronavirus (Covid-19) and provides results in as few as 2 minutes and generally not more than 15 minutes. The test has not yet been reviewed by the U.S. Food and Drug Administration (FDA), but is being offered under the March 16, 2020 guidance set forth by the FDA.

The test can be used for rapid screening of carriers of the virus that are symptomatic or asymptomatic and can be used across many markets including hospitals, clinics, and by employers and correctional institutions. The test is not available for consumer use and will be marketed in full compliance with the FDA guidance, including the required labeling indicating that antibody testing should not be used as the sole basis to diagnose or exclude a Covid-19 infection.

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Currently trading at a $4 million market valuation ABMC is an exciitng story developing in small caps; the stock has seen a huge move after hte Company said it has begun offering a Rapid Test to detect Covid-19 in whole blood, serum or plasma. The assay offers qualitative and differential detection of IgG and IgM antibodies to the 2019 Novel Coronavirus (Covid-19) and provides results in as few as 2 minutes and generally not more than 15 minutes. The test has not yet been reviewed by the U.S. Food and Drug Administration (FDA), but is being offered under the March 16, 2020 guidance set forth by the FDA. We will be updating on ABMC when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with ABMC.

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Disclosure: we hold no position in ABMC either long or short and we have not been compensated for this article.

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