Guided Therapeutics Receives $2.5 Million Purchase Order

New Post Public Reply Private Reply Replies (0) Message Board

Apr 3, 2019 at 12:47 AM 510

Guided Therapeutics Receives $2.5 Million Purchase Order from Chinese Partner Shandong Medical Device Technology Company

April 02, 2019

Guided Therapeutics Receives $2.5 Million Purchase Order from Chinese Partner Shandong Medical Device Technology Company
Contacts
Mark Faupel
Guided Therapeutics
770-242-8723

Guided Therapeutics, Inc. (Pink Sheets: GTHP), the maker of a rapid and painless testing platform based on its patented biophotonic technology, announced that it had received a purchase order in the amount of $2,538,070 from its Chinese co-manufacturing partner and distributor for China, Shandong Yaohuo Medical Device Technology Company, Ltd. Shandong has previously paid Guided Therapeutics nearly $1 million in license payments and invested upwards to another $1 million in infrastructure in China for the roll out of LuViva either later this year or early next year. The purchase order includes parts for final assembly of LuViva along with single use disposables that are consumed with each LuViva test. Approximately 25% of the purchase order will be paid upon Shandong’s filing with the Chinese FDA with the remainder due once Chinese FDA approval is obtained, which is expected within about one year . Shandong has estimated that it will assemble and distribute 200 LuViva devices in China over the next 12 to 18 months. The Chinese FDA has determined that LuViva is a Class 2 medical device, a designation that allows Shandong to apply through its provisional Chinese FDA office as opposed to Class 3 Devices that must apply through the national office in Beijing. As such, the Class 2 designation is expected to result in a faster approval than a Class 3 designation.

“We are gratified that the plan to launch LuViva in China with Shandong is progressing according to schedule,” said Gene Cartwright, CEO of Guided Therapeutics. “The purchase order we received, along with the potential size of the Chinese market for us, provides potential for a record year in LuViva revenues.”

According to the World Health Organization, cervical cancer is ranked as one of the most frequent cancers in women in the world and in China it is the second most common cancer among women. China has a population of approximately 560 million women above 15 years of age, who are at risk of developing cervical cancer. Current estimates indicate approximately 100,000 new cases of cervical cancer are diagnosed each year and 30,000 deaths occur annually due to cervical cancer in China.

About Guided Therapeutics

Guided Therapeutics, Inc. (Pink Sheets: GTHP) is the maker of a rapid and painless testing platform based on its patented biophotonic technology that utilizes light for the early detection of disease at the cellular level. The Company’s first product is the LuViva® Advanced Cervical Scan, a non-invasive device used to detect cervical disease instantly and at the point of care. In a multi-center clinical trial with women at risk for cervical disease, the technology was able to detect cervical cancer up to two years earlier than conventional modalities, according to published reports. For more information, visit: www.guidedinc.com.

The Guided Therapeutics LuViva® Advanced Cervical Scan is an investigational device and is limited by federal law to investigational use in the U.S. LuViva, the wave logo and "Early detection, better outcomes" are registered trademarks owned by Guided Therapeutics, Inc.

Forward-Looking Statements Disclaimer: A number of the matters and subject areas discussed in this news release that are not historical or current facts deal with potential future circumstances and developments. The discussion of such matters and subject areas is qualified by the inherent risks and uncertainties surrounding future expectations generally and also may materially differ from Guided Therapeutics’ actual future experience involving any of or more of such matters and subject areas. Such risks and uncertainties include those related to the early stage of commercialization of products, the uncertainty of market acceptance of products, the uncertainty of development or effectiveness of distribution channels, the intense competition in the medical device industry, the sufficiency of capital raised in prior financings and the ability to realize their expected benefits, the uncertainty of future capital to develop products or continue as a going concern, the uncertainty of regulatory approval of products, and the dependence on licensed intellectual property, as well as those that are more fully described from time to time under the heading “Risk Factors” in Guided Therapeutics’ reports filed with the SEC, including Guided Therapeutics’ Annual Report on Form 10-K for the fiscal year ended December 31, 2017 and subsequent filings.

View source version on businesswire.com: https://www.businesswire.com/news/home/20190402005551/en/

Guided Therapeutics, Inc. (GTHP) Stock Research Links

GTHP Board Company Profile Buy Rating Time & Sales News Filings Financials

Newer

Older

Scroll down for more posts ▼

Top 10 Most Recent News Articles

Jamba's Cloud Whip: A Bold Blend in Beverage Scene

An Unexpected Shake-Up in the Beverage Game Folks, brace yourselves because Jamba's making some bold moves. I remember a time when a smoothie was just a smoothie, but now, they're stacking up a new deck with this fancy thing they're calling 'Cloud Whip'. It's basically a way to slap some extra protein onto your drink, with 10 grams coming at you like a freight train...

Battling Razor Bumps: Breaking a Persistent Cycle

Understanding Razor Bumps: More Than a Cosmetic Annoyance Crossing Great Neck this morning, I stumbled across a curious release from Laser by Aleya. Apparently, the problem with those pesky razor bumps plaguing many isn't just skin-deep. For some, especially those with coarse or curly hair, each razor stroke starts a relentless cycle of irritation that's as grinding as...

Smart Buying in Hilton Head: Second-Home Key Insights

Choosing Your Slice of Paradise in Hilton Head Picture this—not just a sandy paradise for vacationing, but a hotspot for second-home buyers weighing their options like they're sizing up their next big investment. Enter Hilton Head, S.C., a place where strategic move means scooping up properties that marry lifestyle with fiscal savvy. Sizing Up the Dream: More Than Just...

Fly-E Faces Hurdles: Revenue Halved, Losses Soar

Shifting Gears in Rough Terrain Fly-E Group, Inc., known on the NASDAQ as FLYE, is having a hell of a ride these days. The latest quarterly figures? Not exactly inspiring, unless you're into shooting yourself in the foot. With net revenues diving over 48% to just $2.7 million and net losses ballooning to $3.9 million, these numbers aren't painting a pretty picture for...

M Social's NYC Edition Merges Sport and Community

A Bold Move in the Heart of Manhattan You know when a hotel chains itself to a major event like the US Open, it's looking to make a statement—bold, loud, and clear. M Social Hotel New York Times Square did just that, turning its space into a powerhouse hub of sport, culture, and community right in Times Square. Over two days, they brought together some of the top ATP...

Phoenix Initiative Delivers Meals, Health Aid Downtown

Phoenix's Fight Against Homelessness Gets Personal When you hit the streets of downtown Phoenix on a scorching Saturday morning, you're not just encountering sweltering heat; you're witnessing compassion in motion. An unexpected coalition has emerged, unraveling the web of homelessness in the heart of Arizona. Forget the stock tips, this one’s about community fortitude....

Replay Sports Cards Expands to Greenville With New Franchise

An Old Hobby Gets New Life in Greenville Isn't it something when a hobby from your childhood eventually morphs into a business venture? That's exactly what's happening in Greenville, North Carolina, where Replay Sports Cards is laying down roots. Thanks to Jim and Jake Whitehurst's fresh franchise agreement, the card community along the eastern seaboard is about to have a...

Epsilor Launches Cutting-Edge 6T Battery for Military Use

A Big Leap for Military Power on the Go Seems like Epsilor just raised the stakes in the military tech race with their latest 6T battery, a piece of kit boasting some serious muscle at 4,400Wh with 174Ah thrown in for good measure. Serving up a military-grade solution where endurance and performance are necessities, they've entered production just in time for the...

SCO at 25: China's Strategic Push for Regional Growth

There's a new beat coming out of Central Asia, and it's resonating all the way from China's boardrooms to the barren landscapes of the Gobi Desert. With the Shanghai Cooperation Organization (SCO) celebrating its 25th anniversary, we're witnessing a pivot from a security-centric setup to a full-blown economic collaboration machine. The Landscape of SCO's Evolution Look,...

Robo.ai Surpasses $180 Million in Q2 Revenue Surge

Robo.ai's Financial Rocket Lift-off: Q2 Highlights Who would've thought a single acquisition could propel a company's revenue north of $180 million in just three months? Well, Robo.ai, with its recent grab of Quantum Core Capital (QC Capital), shattered that ceiling, showcasing what a savvy acquisition and a dash of tech wizardry can achieve. Strong Quarter, Stronger...