[Featured Stock] Access Bio, Asymptomatic COVID-19 US FDA Emergency Approval...Proving Technological Excellence
[Asia Economy Reporter Hyungsoo Park] Access Bio is showing strong performance. The news that it received Emergency Use Authorization (EUA) from the U.S. Food and Drug Administration (FDA) for the serial testing use of its COVID-19 antigen diagnostic kit appears to have influenced its stock price.
As of 10:39 AM on the 14th, Access Bio is trading at 20,750 KRW, up 12.77% from the previous day.
Access Bio's product can now expand the diagnostic target to asymptomatic individuals. The FDA established the EUA for serial testing as a supplementary policy to strengthen diagnostics and expanded the diagnostic target from symptomatic individuals to include asymptomatic individuals.
Serial testing refers to testing the same patient twice a week using the same test to check for COVID-19 infection. Since the amount of COVID antigen in a patient's sample can change over time, there may be cases where asymptomatic positive patients are diagnosed as negative. Therefore, this diagnostic method quickly identifies infected patients through repeated testing to reduce the spread of infection.
An Access Bio official explained, "In the U.S., even if a COVID patient occurs among family or friends nearby, it was difficult to get tested for COVID-19 without symptoms. However, now the policy has changed so that anyone can get tested for COVID regardless of symptoms."
Currently, products from Abbott, Quidel, and Becton Dickinson have received approval for serial testing, and Access Bio is the fourth to receive approval. With this approval, diagnosis using Access Bio's products is possible not only for symptomatic patients but also for asymptomatic patients at hospitals or diagnostic testing centers with a doctor's prescription.
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An Access Bio official said, "Within less than a year since entering the U.S. market, our product's excellence has been recognized, allowing us to compete on equal footing with global companies. As the diagnostic target has expanded, demand for COVID-19 testing is expected to increase, and we plan to accelerate our U.S. business."
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