Despite the astronomical costs, it may prove challenging to reverse course and discontinue Zika testing according to a commentary article accompanying a NEJM study.
The firm's product revenues were up 19 percent year over year, while license and royalty revenues, as well as R&D, milestone, and grant revenues increased sharply.
The technology behind Mammoth's platform bears a striking resemblance to the CRISPR-based SHERLOCK platform developed by researchers at the Broad Institute.
The team paired the SHERLOCK platform developed in Feng Zhang's lab with a protocol that detects viruses directly from bodily fluids in less than two hours.
The company narrowed its net loss for Q4 2017 to $2.0 million, or $.16 per share, compared to a net loss of $2.6 million, or $.21 per share, in Q4 2016.
The latest version of the nucleic acid detection platform uses three CRISPR enzymes, making it more sensitive and capable of smaller quantitative measurements.
In a study looking at serum from Zika patients and those infected with related disease, the test showed 96 percent sensitivity and 96 percent specificity.
The researchers built a combination nucleic acid-antibody test for the disease using an approach they said could be generally useful for rapid test development.
Designed to run on the company's Sentosa real-time PCR system, the test has been approved for identifying and differentiating Zika in patients.
Chembio's point-of-care DPP Zika System, including an IgM/IgG assay and micro reader, provides quantitative results in 15 minutes from 10μl of fingertip blood.