SONA & SQI Diagnostics (SQD).......market caps Regardless of the number of shares, or share price, to compare Sona and SQI Diagnostics more fairly, simply look at the current market caps relative to the opportunities... SONA is currently valued at approx $200M but has been as high as $800M.
SQD is currently valued at approx $80M, but has yet to share the story.
SQD is in active discussion with the FDA regarding its highly sensitive and quantitative serology antibody test for EUA. This test will be used not only to confirm if you HAD Covid, but also to quantify the level of antibodies. Additionally, given the high sensitivity it will be able to detect antibodies within days of infection rather than weeks. So it can also confirm a CURRENT Covid infection. It therefore largely nullifies the usefulness of most Antigen tests, and most other Serology tests as well. Huge potential here!
This test will also be used to guide vaccinations, or re-vaccinations, quantifying antibodies.
Very briefly and simply put...
SQD also has a quick triage POC (IL-6) test that accurately predicts the direction of a patient's health....send them home, or send them to the emergency room, or to ICU in some cases.
If results from the triage test show concern, there is a next level multiplex test with additional cytokine markers that will provide additional important levels/signalling, guiding treatment.
Beyond this there is an additional multiplex test that measures the health of lungs which determine suitability for transplant. Many of the biomarkers of this test will be applicable for additional organ tests to follow. Another huge revenue opportunity.
All of these tests have gathered all necessary data for submission to FDA and expect EUA's to be granted shortly. These represent a potential $2B+ annual opportunity. If you satisfy the FDA, Health Canada will quickly follow. FDA is the Gold Standard and is the true prize. Health Canada is not an efficient process and represents such a small fraction of the opportunity and therefore falls far behind on the priority list for many companies.
If SONA can manage a $100M to $200M market cap, then what should SQD's be? I would suggest a $500M+ market cap should be achievable in relatively short order. SONA briefly achieved an $800M market cap, and while SONA's immediate status is unknown, SQD is only weeks to a few months away from multiple FDA EUA's.
SONA's Concussion biomarker test sounds very interesting, but I am not so certain the Antigen test will provide as big an opportunity as originally thought?
A little time is all that is needed and we will all have tangible results to reflect on.
Best of luck to holders of both plays here.