Abbott's $5 COVID-19 test gives results in 15 minutes: 8 quick facts

Abbott received the FDA's emergency use authorization clearance for its rapid COVID-19 detection test BinaxNOW COVID-19 Ag Card.

Here are eight quick facts:

1. Abbott will sell the test for $5.

2. The test is the size of a credit card, making it very portable and in a familiar format for mass testing through healthcare providers.

3. There is not extra equipment required to conduct the test.

4. The test can provide results in 15 minutes.

5. Abbott launched a complementary mobile app for iPhone and Android called Navica, available at no charge.

6. Mobile app users will be able to access a temporary digital health pass via QR code indicating test results, and the pass will update with each new test. Organizations can use the mobile device information to facilitate entry into events and public spaces.

7. The device has 97.1 percent sensitivity and 98.5 percent specificity in patients with suspected COVID-19 by healthcare providers within the first seven days of symptoms beginning.

8. Abbott plans to ship millions of tests in September and ramp up to 50 million tests per month by October.

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