{"id":9758,"date":"2024-05-16T02:57:58","date_gmt":"2024-05-16T02:57:58","guid":{"rendered":"https:\/\/economicherald.net\/?p=9758"},"modified":"2024-05-16T02:57:58","modified_gmt":"2024-05-16T02:57:58","slug":"asx-health-stocks-atomo-up-over-20pc-on-budget-boost-for-hiv-self-test-kits","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=9758","title":{"rendered":"ASX Health Stocks: Atomo up over 20pc on Budget boost for HIV self-test kits"},"content":{"rendered":"<p>Atomo says Budget will boost its business<\/p>\n<p><a href=\"https:\/\/stockhead.com.au\/company\/atomo-diagnostics-at1\/\">Atomo Diagnostics (ASX:AT1)<\/a> says the just announced\u00a0Federal Budget\u00a0will significantly support HIV Self-Testing in the country,\u00a0and\u00a0will be a big tailwind for its business.<\/p>\n<p>The Government announced on Tuesday that people with or at risk of HIV will receive unprecedented support of $43.9 million through better prevention, testing, workforce training and information.<\/p>\n<p>This means that more people in at-risk groups will get free HIV self-test kits through the expanded national HIV self-test mail-out program.<\/p>\n<p>The Government also intends to expand the South Australia-based HIV testing vending machine pilot to every state and territory, meaning that more people around Australia will get wider access to HIV testing.<\/p>\n<p>The boost in funding comes after the Government\u2019s <em>HIV Taskforce<\/em> finally acknowledged last November how crucial self-testing is for Australia to hit its HIV goal \u2013 which is full eradication by 2030.<\/p>\n<p>Atomo has the only HIV Self-Test that\u2019s legit on the <em>Australian Register of Therapeutic Goods (ARTG).<\/em><\/p>\n<p>The company says it will now stay committed to keeping this momentum going, working with the government and other stakeholders to make sure everyone can access quality HIV self-tests without any roadblocks, helping to reach the 2030 target.<\/p>\n<p><strong>Atomo CEO John Kelly<\/strong> said he was excited to see the Government fund the rapid expansion of the national HIV self-test mail-out program, and the HIV self-test vending machine pilots.<\/p>\n<p>\u201cBoth have proven extremely successful in increasing testing rates among groups not currently testing via healthcare facility-based services,\u201d said Kelly.<\/p>\n<p>\u00a0<\/p>\n<h2>Atomo\u2019s HIV Self Kit<\/h2>\n<p>The Atomo HIV Self Test is designed to detect antibodies in human blood to determine HIV infection. This is a single-use screening test that gives a result in 15 minutes.<\/p>\n<p>In April, the company secured significant purchase orders from <em>Viatris Healthcare <\/em>for approximately $570k worth of HIV Self-Tests, manufactured by Atomo under the <strong>Mylan<\/strong> brand for supply to several Low- and Middle-Income Countries (LMICs).<\/p>\n<p>Atomo considered the revenue from these orders to be material.<\/p>\n<p>Currently, there is no cure for HIV, or AIDS, but with correct medical treatment it can be managed as a non-life threatening condition.<\/p>\n<p>With early diagnosis and treatment, the life expectancy for someone with HIV can be similar to that of someone who does not have HIV.<\/p>\n<p>The Atomo stock price rose by over +20% today.<\/p>\n<p>\u00a0<\/p>\n<h2>Atomo share price today:<\/h2>\n<p>\u00a0<\/p>\n\n<p><span class=\"mce_SELRES_start\">\ufeff<\/span><span class=\"mce_SELRES_start\"><\/span>\u00a0<br \/>\n<span class=\"et_bloom_bottom_trigger\"><\/span><\/p>\n<p>The post <a href=\"https:\/\/stockhead.com.au\/health\/asx-health-stocks-atomo-up-over-20pc-on-budget-boost-for-hiv-self-test-kits\/\">ASX Health Stocks: Atomo up over 20pc on Budget boost for HIV self-test kits<\/a> appeared first on <a href=\"https:\/\/stockhead.com.au\/\">Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"<p>Atomo says Budget will boost its business Atomo Diagnostics (ASX:AT1) says the just announced\u00a0Federal Budget\u00a0will significantly support HIV Self-Testing in the country,\u00a0and\u00a0will be a big <a href=\"https:\/\/economicherald.net\/?p=9758\" class=\"read-more-link\">[more&#8230;]<\/a><\/p>\n","protected":false},"author":0,"featured_media":9759,"comment_status":"","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-9758","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - 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