This looks like it's an adaptation of the company's existing "ID NOW" equipment ...

This looks like it's an adaptation of the company's existing "ID NOW" equipment that was previously approved for rapid influenza detection. That test amplifies viral RNA, like the existing RT-PCR tests also do, but using a different method that is supposed to be faster but still accurate. Their influenza-test materials describe ID NOW as "isothermal nucleic acid amplification technology" [1]. According to one paper [2], it's a form of nicking enzyme amplification reaction (NEAR) [3].