Atomo Diagnostics Ltd
ASX:AT1
Atomo Diagnostics Ltd
Atomo Diagnostics Ltd. engages in manufacturing, research, development, and design of in-vitro medical devices for blood-based rapid diagnostic testing (RDT) for professional use and self-testing. The company is headquartered in Sydney, New South Wales. The company went IPO on 2020-04-16. The firm is engaged in the development and sale of medical devices. Its AtomoRapid is offering rapid diagnostic test (RDT) platform, which provides devices to the global diagnostic market. Its RDT device platforms include Galileo, Pascal, Losev, Newton, Franklin and Elion. The company also offers blood-based rapid diagnostic test (RDT) for screening for human immunodeficiency virus (HIV). Its RDT platform includes various features, such as integrated lancelet, blood collection, buffer delivery and digital display. The company is also engaged in sales of Atomo branded COVID-19 rapid antibody and antigen tests in Australia.
Atomo Diagnostics Ltd. engages in manufacturing, research, development, and design of in-vitro medical devices for blood-based rapid diagnostic testing (RDT) for professional use and self-testing. The company is headquartered in Sydney, New South Wales. The company went IPO on 2020-04-16. The firm is engaged in the development and sale of medical devices. Its AtomoRapid is offering rapid diagnostic test (RDT) platform, which provides devices to the global diagnostic market. Its RDT device platforms include Galileo, Pascal, Losev, Newton, Franklin and Elion. The company also offers blood-based rapid diagnostic test (RDT) for screening for human immunodeficiency virus (HIV). Its RDT platform includes various features, such as integrated lancelet, blood collection, buffer delivery and digital display. The company is also engaged in sales of Atomo branded COVID-19 rapid antibody and antigen tests in Australia.
Revenue Growth: Quarterly revenue reached $1.5 million, more than doubling from the previous quarter, driven mainly by OEM Pascal sales and growth in HIV self-test products.
Cash Position: Closed the quarter with just over $3.5 million in cash on hand, slightly up quarter-over-quarter, aided by customer receipts and grants.
Cost Control: Continued focus on lean operations and grant-based programs helped keep cash burn under $1 million in the first half of the year.
OEM Expansion: Secured new OEM customers for Pascal, with substantial orders for clinical validation and expectations of long-term supply agreements.
Product Pipeline: Progressing on key products including HIV self-tests, syphilis tests (clinical trials planned within 3–6 months), and a new ALT liver function test with significant commercial opportunities.
Operational Scale-Up: Expanding manufacturing capacity to 12–15 million units per year to meet anticipated demand.
