Todos Medical Announces $4.8 Million in Sales for
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Posted On: 01/11/2021 11:01:01 AM
Todos Medical Announces $4.8 Million in Sales for December 2020, a 50% Month Over Month Increase in Sales from November 2020
Download as PDFJANUARY 11, 2021 8:30AM EST
NEW YORK, NY, REHOVAT, ISRAEL, SINGAPORE, Jan. 11, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- Todos Medical (OTCQB: TOMDF), an in vitro diagnostics company focused on distributing comprehensive solutions for COVID-19 screening and diagnosis, and developing blood tests for early detection of cancer and Alzheimer’s disease, today announced $4.8 million in sales for the month of December 2020, which represents a 50% month over month increase from November 2020. The majority of the increase in sales was driven by an increase in reagent and supply sales from its pre-existing clients. Additionally, the Company added several new clients who have requested automation packages that the Company expects to install in January 2021 and February 2021.
Todos expects significant month over month revenue growth for January 2021, as daily testing volumes for the majority of its COVID-19 testing clients increases on a monthly basis, and as two potentially large COVID-19 testing clients located in Brooklyn, NY complete the installation of liquid handling automation technology that will allow them to achieve testing capacities of up to 20,000 PCR tests per day. Additionally, several new client labs are beginning to order the Company’s various offerings with manual pipetting processes until such time they ramp their testing volumes to above 1,000 tests per day that would justify liquid handling solutions.
“We are now in full growth mode, with commercial proof of concept achieved with our rapidly-growing Wisconsin client who is now graciously helping the Company with demonstrations of our capabilities for prospective clients operating in different markets outside of Wisconsin,” said Gerald E. Commissiong, President & CEO of Todos Medical. “With our main COVID-19 PCR reagents and supply business for labs very much moving in the right direction, we are working to define our launch strategy for the complementary Aditxt Score™ COVID-19 antibody and cellular immunity profiling test through our existing channels as a ‘must-have’ monitoring solution as COVID-19 vaccination programs gain steam nationwide. Additionally, emerging opportunities to support government-backed testing programs being planned as the Biden administration implements its mandate to increase testing in schools and other constituencies nationwide will provide tailwinds for our point of care and reflex PCR testing programs.”
Mr. Commissiong continued, “Perhaps most importantly, our proprietary development-stage 3CL protease testing program is rapidly maturing and becoming increasingly important in the face of new SARS-CoV-2 strains that are beginning to evade currently-available testing methods. Because our 3CL protease assay measures an enzyme required for coronavirus replication, we are focused on bringing this product to market worldwide and are evaluating the best options available to do this. This novel assay will likely be critical for the foreseeable future as the market for COVID-19 testing matures and new strains force authorities to think beyond genetic testing-only strategies that are at high-risk of failure for the fast-mutating SARS-CoV-2 virus.”
For information related to Todos Medical’s COVID-19 testing capabilities, please visit www.todoscovid19.com
https://investor.todosmedical.com/news-events...r-december
Download as PDFJANUARY 11, 2021 8:30AM EST
NEW YORK, NY, REHOVAT, ISRAEL, SINGAPORE, Jan. 11, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- Todos Medical (OTCQB: TOMDF), an in vitro diagnostics company focused on distributing comprehensive solutions for COVID-19 screening and diagnosis, and developing blood tests for early detection of cancer and Alzheimer’s disease, today announced $4.8 million in sales for the month of December 2020, which represents a 50% month over month increase from November 2020. The majority of the increase in sales was driven by an increase in reagent and supply sales from its pre-existing clients. Additionally, the Company added several new clients who have requested automation packages that the Company expects to install in January 2021 and February 2021.
Todos expects significant month over month revenue growth for January 2021, as daily testing volumes for the majority of its COVID-19 testing clients increases on a monthly basis, and as two potentially large COVID-19 testing clients located in Brooklyn, NY complete the installation of liquid handling automation technology that will allow them to achieve testing capacities of up to 20,000 PCR tests per day. Additionally, several new client labs are beginning to order the Company’s various offerings with manual pipetting processes until such time they ramp their testing volumes to above 1,000 tests per day that would justify liquid handling solutions.
“We are now in full growth mode, with commercial proof of concept achieved with our rapidly-growing Wisconsin client who is now graciously helping the Company with demonstrations of our capabilities for prospective clients operating in different markets outside of Wisconsin,” said Gerald E. Commissiong, President & CEO of Todos Medical. “With our main COVID-19 PCR reagents and supply business for labs very much moving in the right direction, we are working to define our launch strategy for the complementary Aditxt Score™ COVID-19 antibody and cellular immunity profiling test through our existing channels as a ‘must-have’ monitoring solution as COVID-19 vaccination programs gain steam nationwide. Additionally, emerging opportunities to support government-backed testing programs being planned as the Biden administration implements its mandate to increase testing in schools and other constituencies nationwide will provide tailwinds for our point of care and reflex PCR testing programs.”
Mr. Commissiong continued, “Perhaps most importantly, our proprietary development-stage 3CL protease testing program is rapidly maturing and becoming increasingly important in the face of new SARS-CoV-2 strains that are beginning to evade currently-available testing methods. Because our 3CL protease assay measures an enzyme required for coronavirus replication, we are focused on bringing this product to market worldwide and are evaluating the best options available to do this. This novel assay will likely be critical for the foreseeable future as the market for COVID-19 testing matures and new strains force authorities to think beyond genetic testing-only strategies that are at high-risk of failure for the fast-mutating SARS-CoV-2 virus.”
For information related to Todos Medical’s COVID-19 testing capabilities, please visit www.todoscovid19.com
https://investor.todosmedical.com/news-events...r-december
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