"Pfizer has offered $100 million to buy a Brisbane-based company that has invented a smartphone app it says can diagnose COVID-19 by listening to someone cough.
ResApp CEO and managing director Tony Keating described the deal as a potential "game changer" for dealing with COVID-19.
"Pfizer represents a huge opportunity to get this test into people's hands," Dr Keating said.
Doctors are currently using a version of the app to help diagnose respiratory conditions such as asthma and pneumonia during telehealth appointments.
It was only recently that researchers discovered the technology could be used to detect COVID-19 if a patient coughed five times into a microphone.
Dr Keating said recent studies showed a 92 per cent success rate in diagnosing the virus, but more clinical trials were needed for it to gain regulatory approval.
The accuracy of the test drops if the person has no symptoms.
"If you are truly asymptomatic, we are a similar accuracy to a rapid antigen test, so we do drop down to 50-60 per cent accurate in that case," Dr Keating said.
The company said negative tests using ResApp were 99 per cent accurate, however a positive test should be confirmed using a RAT kit or PCR test."
You really have to have faith to trade small cap stocks. Unfortunately I did not hang in for the long haul.
