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Federal mandates requiring frequent SARS-CoV-2 testing for nursing home employees and significant purchases of rapid antigen tests from HHS have raised concerns about capacity.
The company is currently working on multiple infectious disease products, including a panel for sexually transmitted infections and one for SARS-CoV-2.
Some lab experts say that Abbott's test is open to multiple variables, which could lead to improper use and incorrect test results.
The international competition's goal is to spark innovation and accelerate safe returns to work, school, and other public activities.
The company, which went public in June, has had to deal with issues with the US DOJ, and some private insurers. Its CEO's tenure at Sequenom was also marred by a scandal.
The company's RaPID platform detects infections directly from a blood sample and can provide results in three hours.
On a conference call to discuss the company's third quarter financial results, executives said they increased molecular test production by 50 percent during the quarter.
New offerings from the oncology testing company include Inivita's InvisionFirst-Lung test and the NeoLab solid tumor test.
The firm currently has seven available products, including high- and low-throughput molecular tests and an antibody test for the virus.
Significant revenue from molecular and rapid diagnostic testing for SARS-CoV-2 offset declines in core lab volumes.