Hmmm...after some critical thinking and extrapolating, I've deduced that this is very good news. Note that the Company is investigating whether or not the test can be adapted to work on the unnamed company's POC platform. My assumption then is that the test is proven to work (determined in the time since the initial announcement).

Hopefully, the POC test platform will accommodate the Company's test and with only a little tweaking. I assume the process of tweaking is the part that isn't funded yet; given the frugal nature of the CEO (and the need to be frugal), I can see why only the first phase has been funded. Hopefully, there are deep pockets waiting to invest based on results of the feasibility assessment.

Dr. SF's investment conveys his expert opinion about the test.

I wonder what the separate phase and aspect is....

Lastly, I assume there will be a need for an EUA from the EFFda once the test has completed development. There will also be a need to mass produce this test -- is it logical to assume that the unnamed company could also mass produce this test since it is their platform?

All in all, given my recent experience with a different biotech company, I would place the timeframe for application for an EUA in 4-6 months if everything progresses from here without delay.