Astrotech Corporation [NASDAQ: ... Astrotech Developing Screening Instrument for Lung Diseases Including COVID-19/Coronavirus & Pneumonia. This process requires many days to ship, process, and receive the results, exacerbating the problem while people spread the disease. Astrotech is headquartered in Austin, Texas. (RTTNews) - Shares of Astrotech Corp. (ASTC) jumped over 260% on Wednesday morning after medical equipment maker announced that it is developing a instrument to screen COVID-19. Astrotech Corporation [NASDAQ: ASTC] today announced that the BreathTest-1000™ is under development to screen for volatile organic compound (VOC) metabolites found in a person’s breath that could indicate they may have an infection, including Coronavirus Disease 2019 (“COVID-19”) or the resulting disease, pneumonia. “At this point, we believe the issue is not as much about the test kit numbers as it is about where the tests are actually being run and where testing is most needed. Astrotech Corp., of Austin, Texas, has a broad range, having developed mass spectrometers in agriculture and manufacturing and selling chemical analyzers for use in the airport security and other applications. They were placed on your computer when you launched this website. … This delay could result in disease spread.
The Company believes that its unique mass spectrometry technology that was initially developed in collaboration with the National Aeronautics and Space Administration (NASA), the U.S. Army, and the Transportation Security Administration (TSA) is ideal for lung disease testing applications, which are now under development.The Astrotech mass spectrometry technology (Technology) was designed to be inexpensive, small, rugged, fast, and easy to use for air quality monitoring and trace detection of chemical warfare agents, explosives, and narcotics.
1st Detect develops, manufactures, and sells explosives trace detectors for use in the security and detection market. The Austin-based research and …
Pickens confirmed that the subsidiary already has launched.Astrotech also announced March 25 that it has entered definitive agreements with several institutional investors for the purchase and sale of 354,000 shares of the company’s common stock, at a purchase price of $5 per share. Gross proceeds are expected to be $1.77 million, before deducting the placement agent’s fees and other offering expenses payable by the company.
It subsequently focused on its satellite processing business, Astrotech Space Operations (ASO), as well as 1st Detect, its mass spectrometer instrumentation business, and Astrogenetix, its microgravity vaccine development company. Austin, TX - March 25, 2020 Astrotech Corporation [NASDAQ: ASTC] today announced that the BreathTest-1000™ is under development to screen for volatile organic compound (VOC) metabolites found in a person’s breath that could indicate they may have an infection, including Coronavirus Disease 2019 (“COVID-19”) or the resulting disease, pneumonia.
AgLAB develops, manufactures, and sells chemical analyzers for use in the agriculture market.
Brian Weinstein, an analyst with William Blair, noted that testing companies are stepping up. However, “we are seeing the number of test kits that are talked about as being manufactured actually exceeding the capacity of the instruments in the field.” More instrumentation is needed, Weinstein said, but the testing situation appears to be heading in a positive direction, “and we are actually in reasonable shape.”Still, there are issues. The Company believes that the Company’s Technology can be designed as a field-deployed instrument used at drive-up testing facilities to quickly (under 1 min.) The entire process, which includes shipping, processing and taking in the results, requires several days. The European Civil Aviation Conference has certified the technology, which now is deployed in air cargo facilities throughout the EU.Thomas Pickens III, chairman and CEO of Astrotech, told “We don’t have that problem; we’re 100% accurate,” Pickens said.The company thus has confidence that its technology can be designed as a field-deployed instrument and used at drive-up testing facilities to test for the VOCs found in the breath of COVID-19- and pneumonia-infected patients. This is an incredibly scalable solution that is very much needed to screen as many people as possible in the shortest time," stated Thomas B. Pickens III, Chairman and Chief Executive Officer of Astrotech Corporation.In addition, the Company will be launching a new subsidiary company, BreathTech Corporation, that will hold the exclusive license to use the 1Astrotech (NASDAQ: ASTC) is a science and technology development and commercialization company that launches, manages, and builds scalable companies based on innovative technology in order to maximize shareholder value. and easily (minimal training required) test for the VOCs found in the breath of COVID-19 and pneumonia infected patients.Most reliable testing performed today requires the collection of off-site samples in the field that are then sent to centrally located laboratories for testing. Of note, testing would take less than a minute and require minimal training.In today’s testing situation, samples are collected off-site and sent to centrally located labs.
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