How COVID-19 Tests Will Help Reopen America - Conference Call Series

Rhode Island Testing Status and Strategy

• As of the call, Rhode Island had conducted over 12,000 positive tests and 500 fatalities, having tested nearly 12% of the state's population.
• Governor Gina Raimondo emphasizes an "SOS" (Symptomatics, Outbreaks, Surveillance) testing model designed to stay ahead of viral transmission.
  • Symptomatics: Goal to provide testing within one day and results within the following 24 hours.
  • Outbreaks: Commitment to deploy mobile teams to outbreak sites within four hours for immediate mass testing.
  • Surveillance: Implementation of constant population surveillance, particularly in dense urban and poor communities where outbreaks are occurring.
• Governor Raimondo prioritizes equity in testing access, ensuring availability regardless of income, race, gender, immigration status, or zip code.
• By July, the state aims to increase daily testing capacity from 3,000 to 10,000; by the start of the school year, capacity targets 15,000 to 20,000 tests per day.
• All residents and workers in Rhode Island nursing homes were tested as of the previous Monday, with regular re-testing scheduled.

Phased Economic Reopening in Rhode Island

• Rhode Island is in Phase One of reopening, initiated May 8th, which allows social gatherings of up to five people and the resumption of manufacturing, construction, and retail with restrictions.
  • Outdoor dining was launched on the day of the call, noting high compliance with mask-wearing and social distancing.
• Phase Two is projected to begin in early June, featuring relaxation for in-room dining, increased gathering limits, and the reopening of hairdressers and barbers.
• Phase Three is anticipated approximately one month after Phase Two to enable further economic activity.
• Governor Raimondo highlights that the reopening strategy specifically targets low-wage workers in sectors like retail, food service, and tourism who cannot work remotely.

LabCorp National Capacity and Capabilities

• LabCorp has performed nearly 2 million PCR tests to date and aims to reach 150,000 PCR tests per day by mid-June (currently at 75,000/day).
• The company has conducted over 500,000 antibody tests and plans to scale capacity to 300,000 tests per day by mid-June (currently over 100,000/day).
• CEO Adam Schechter notes the total U.S. commercial testing volume reached approximately 11 million tests within six to eight weeks of commercial lab involvement.
• LabCorp has deployed its PIXL at-home test kit, allowing overnight shipping of the test and return sample for processing with results in one to two days.

Testing Accuracy and Limitations

• LabCorp's PCR tests are described as highly accurate with 1-2 day turnaround times for results.
• LabCorp's antibody tests show specificity rates between 99% and 99.8% for COVID-19.
• Schechter cautions that while antibodies indicate past infection, the duration and certainty of immunity against future infection remain scientifically unproven.
• The company advises continued adherence to social distancing and hygiene protocols even for individuals with antibodies, as herd immunity is not yet a reliable strategy.
• Schechter urges consumers to verify that testing providers utilize tests with FDA Emergency Use Authorizations (EUAs) to ensure accuracy.

Forward-Looking Statements and Concerns

• Governor Raimondo expresses concern regarding non-COVID healthcare needs, citing instances of cancer patients delaying treatment due to fear of exposure.
• Both speakers warn against complacency during the summer months, predicting potential risks from a combined flu and coronavirus season in the fall.
• Governor Raimondo plans for in-person school reopening in the fall, contingent on achieving sufficient testing capacity and discipline regarding mask-wearing and symptom monitoring.
• Schechter anticipates rapid development of vaccines and treatments, crediting unprecedented collaboration between biotech firms and regulators like the FDA.
• The speakers identify contact tracing systems (supported by partners like Salesforce and Infosys) as critical infrastructure for building public confidence to re-enter the economy.