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ABBOTT PARK, Ill. — North suburban-based Abbott Labs says it has received FDA approval for its new COVID-19 antigen test which delivers results in about 15 minutes.

Abbott said he test is just about the size of a credit card  and will only cost about $5 per test.

Abbott Laboratories said their new test, the BinaxNOW Covid-19 Ag Card, can be used almost anywhere.

During a virtual briefing, researchers for the company said it’s similar to a home pregnancy test.

A healthcare professional uses a nasal swab to get a sample, then that’s placed into the test card. Doctors said during the briefing that other tests currently being used can give false negatives.

“It took three tests that were negative before we got one that was real. Why was that? Because some studies a third of PCRs are a false negative. This is not very good,” Dr. Frank Peacock, professor of emergency medicine, associate chair, and research director for the department of emergency medicine at Baylor College of Medicine, said.

But doctors said this BinaxNOW test is more accurate.

“When you’re negative with this test, you’re done. 1 in 1000 will be wrong,” Peacock said.

The company said an app will also be available, so the person who is tested can received their results of their test through their mobile device.

It’s not clear who will start receiving these tests, but the company said they will ship tens of millions of tests next month with an expected 50 million tests a month at the beginning of October.