Insights

The AnteoTech (ASX:ADO) share price closed 43% higher today

The AnteoTech share price boomed over 40% higher today. Let’s check out the company’s latest announcement to see what’s up.
The post The AnteoTech (ASX:ADO) share price closed 43% higher today appeared first on The Motley Fool Australia. –

Colourful explosion to symbolise ASX share price growth

The Anteotech Ltd (ASX: ADO) share price gained a whopping 43.18% today, closing the day trading at 32 cents.

AnteoTech is a surface chemistry company with intellectual property in its core technology product groups. These include AnteoCoat, AnteoBind and AnteoRelease. The company’s customers operate in the life sciences, diagnostics, energy and medical devices markets.

With no recent company announcements, let’s take a look at what could be driving the AnteoTech share price.

AnteoTech share price zooms after Ellume secures US contract

Earlier this month, AnteoTech announced that its client, Ellume, had signed a deal with the US Defence Department for emergency use authorisation of its COVID-19 at-home test.

Ellume integrates AnteoBind technology in its proprietary quantum dot diagnostics platform.

The Ellume COVID-19 home test, incorporating AnteoBind, is the first non-prescription over-the-counter self-test authorised by the US Food and Drug Administration (FDA) for emergency use.

AnteoBind is a key element of AnteoTech’s own COVID-19 Antigen Rapid Test currently in development and several other assays marketed globally.

AnteoTech advised that it has worked closely with Ellume over recent months to ensure it could supply the required volumes of AnteoBind.

The company expects that Ellume’s requirement for AnteoBind will increase modestly over coming months as supply to the US markets takes off.

Words from the CEO

Commenting on the Ellume agreement, AnteoTech CEO Derek Thomson said:

We are delighted to be involved with Ellume’s success and we congratulate the company on their announcement.

Ellume was the original seed customer in AnteoTech’s strategy to demonstrate the value that AnteoBind can bring to assay development and it is pleasing to see that strategy now delivering market recogition.

I commend the work of AnteoTech’s Life Science team under the leadership of Charlie Huang for their continued work to make AnteoBind a key element in the development of diagnostic products in global markets.

The AnteoTech share price has exploded more than 648% higher over the previous 12-month period.

Where to invest $1,000 right now

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

See The 5 Stocks

*Returns as of February 15th 2021

More reading

Motley Fool contributor Gretchen Kennedy has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The post The AnteoTech (ASX:ADO) share price closed 43% higher today appeared first on The Motley Fool Australia.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;


To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.


An active and funded account with a positive trading balance is required to continue to have access to the tools;


Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;


Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!