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Atomo’s HIV self-test kits being rolled out by Canberra in $1.3M contract

ASX News, Health Care
ASX:AT1      MCAP $13.42M
12 June 2024 10:00 (AEDT)

A visual depiction of HIV in the human body. Source: Adobe Stock

Atomo Diagnostics (ASX:AT1) has confirmed it’s set to make $1.3M over the next 2 years by having its HIV self-test kits expanded to 70 sites around the country.

Delivered in vending machines, the company has the only self-test kit for HIV recognised by the domestic regulator’s approved devices list.

It had gazed into a crystal ball earlier this year to note the Federal budget had measures set aside for such a national rollout, given it was the only real operator in the space.

Currently, some 6 machines are located in South Australia but by 2025 that number will grow more than tenfold in every state and territory.

At the same time, a separate program in NSW is also set to incorporate some of the vended self-test kits.

Notably, the company was firm in its guidance for $1.3M in revenue.

“Based on funding recently committed by the Federal government … the company is budgeting, not forecasting, revenue from the program over the next two years of approximately $1.3 million,” Atomo wrote on Wednesday.

Management noted the growing trend of self-testing kits in HIV programs administered by world governments.

“Self-testing is now recognised by governments around the world as cost effective to deploy at scale and supporting improved and earlier detection,” CEO John Kelly said.

“We anticipate seeing this trend continue with a broader range of infectious disease testing being funded for deployment at home.”

AT1 last traded at 2.8cps.

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