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Coronavirus Update: Abbott's Fast $5 COVID-19 Test Gets FDA Emergency USe Authorization

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Good morning, it’s Thursday, August 27. Here’s your daily coronavirus update.

According to Johns Hopkins, There are over 24.2 million cases of the virus worldwide, with over 826,000 deaths.

The U.S. has surpassed 5.8 million cases with over 179,000 deaths.

Per the COVID-19 Tracking Project, there were 43,130 new cases reported Wednesday, which is slightly up from the 36,000 reported on Tuesday. 674,802 new tests were reported. And 1,249 deaths were reported yesterday, which is up from the 1,100 deaths reported the day prior per the data collected by the Tracking Project.

Spain, South Korea, France, Italy, Germany and India are all facing new cases on the rise.

Abbott’s $5 rapid-response Covid-19 antigen test has received emergency authorization for use in the U.S. from the Food and Drug Administration.

Results from the test, which uses a nasal swab and a small reactive card, can be returned in about 15 minutes.

The new test “can be used at a massive scale to help overcome the current waiting game for test results,” John Hackett, divisional vice president of applied research and technology at Abbott Diagnostics, told The Wall Street Journal.

Abbott said it will begin shipping the test, called the BinaxNOW COVID-19 Ag Card, in September, and the company plans to make 50 million tests a month by October. 

You can follow Katherine Ross on Twitter at @byKatherineRoss.

Read more from Katherine Ross here.

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