Sona Nanotech Finalizing Submission to Health Canada and FDA for the Fastest COVID-19 Test kit

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• Sona Nanotech recently received confirmation from an independent laboratory that its test achieved a positive response to a recombinant whole spike protein control reagent specific to SARS-CoV2 and matched the limit of detection (LOD) achieved in its own labs.
• In-house analytical testing has indicated a very high level of specificity to COVID-19, with no false positives being generated.
• SONA’s kit can produce results in 5-15 minutes and has quoted kits costing less than $50 CAD and likely will cost even less with larger bulk orders.
• Current kit orders already sitting at $2 million through an LOI with Europe, Conservative bulk pricing of $27 then this would give the company revenues of $54M.
• The federal government have mentioned ramping up testing 3 times the current numbers. (predicted revenues around $100 million conservatively)
• Management mentioned ramping up production capacity to 1 million kits per week.