Henry Schein (HSIC) - Get Report shares were higher on Thursday after the dental-equipment distributor announced the availability of a test for the coronavirus that can provide results within 15 minutes.
The Melville, N.Y., company said the test, Standard Q Covid-19 IgM/IgG Rapid Test, is intended to be administered at the point of care.
The company said it expected to have at least several hundred thousand tests available by March 30 and "significantly" increased availability beginning in April.
The test measures antibodies associated with the 2019 novel coronavirus in blood drawn with a pinprick. No instrumentation is required, Henry Schein said.
Since serology tests measure antibodies, the company said, they can help assess the likelihood of past as well as present infection. They are meant to be used to help health-care professionals diagnose the mid- to later stages of the viral infection, it said.
Health-care professionals can use the results of the test, along with a patient’s medical history, symptoms, and results of other relevant testing, to make informed decisions about treatment and care.
The tests may help health-care professionals assess whether individuals (including health-care workers) have recovered from the virus, the company said.
Schein added that follow-up testing with a molecular diagnostic should be considered to confirm or rule out infection.
The test is being made available under emergency guidance issued by the U.S. Food and Drug Administration.
The Standard Q Covid-19 test is manufactured by SD Biosensor, Inc., a global biodiagnostic company in Korea. SD BioSensor is represented by VelocityDX in the U.S.