Todos Medical Announces $7.2M in Sales for Februar
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Posted On: 03/12/2021 3:20:59 PM
Todos Medical Announces $7.2M in Sales for February 2021, a 38% Month Over Month Increase From Sales of $5.2M in January 2021
· $12.5M in combined January 2021 and February 2021 sales
· President Biden signs American Recovery Act into law
NEW YORK, NY, REHOVAT, ISRAEL, March 12, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- Todos Medical, Ltd. (OTCQB: TOMDF), an in vitro diagnostics company focused on distributing comprehensive solutions for COVID-19 screening, diagnosis and immune support, as well as developing blood tests for early detection of cancer and Alzheimer’s disease, today announced $7.15 million in sales for the month of February 2021, representing a 38.1% month over month increase from sales of $5.18 million in January 2021.
The increase in sales was predominantly driven by increased PCR reagent and supply sales from a new New York City (NYC) Tri-State Area client, who recently completed installation and validation of Todos’ turnkey, automated workflow solution, including Tecan™ instrumentation. Todos’ solution enables laboratories to increase revenue through the rapid expansion of processing capacity in order to cost-effectively bring sample processing in-house instead of referencing it out to partner labs. This client will be particularly focused on COVID testing for schools planning to re-open in-person learning. Additionally, Todos expects another one of its pending NYC Tri-State Area clients to become operational and begin to bring sample processing in-house in the coming weeks. This client primarily provides comprehensive testing solutions for skilled nursing facilities.
“We have spent the last several months in execution mode, focusing on optimizing our PCR testing business, aligning ourselves more closely with our world-class engineering consultants, automating sample tracking and data reporting workflows, and training our clients’ lab staff to take on the significant task of reporting results for healthcare and other providers,” said Gerald E. Commissiong, President & CEO of Todos Medical. “Along with the accelerating growth of our main COVID-19 PCR reagents and supply business for labs, we are continuing to optimize our COVID-19 product offering, including working closely with our strategic partner Aditxt (NASDAQ: ADTX) to build the world’s best immune profiling test that will provide information on immunity status to better understand an individual’s risk of infection while easing social restrictions such as in nursing home visits. We are working diligently to complete the acquisition of Provista Diagnostics which will add core molecular testing capabilities to our growing infrastructure and provide a breeding ground for optimized COVID-19 testing panels that will eventually lead to monitoring for derivative COVID-19 monitoring opportunities in early detection of breast cancer and Alzheimer’s disease, especially in long hauler COVID-19 patients.”
Mr. Commissiong continued, “Furthermore, we are extremely pleased with the passage of the American Recovery Act. This vital legislation will unlock the resources needed to implement testing at scale and make our communities safer so children can return to school, and parents can get back to work.”
https://investor.todosmedical.com/news-events...ary-2021-a
· $12.5M in combined January 2021 and February 2021 sales
· President Biden signs American Recovery Act into law
NEW YORK, NY, REHOVAT, ISRAEL, March 12, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- Todos Medical, Ltd. (OTCQB: TOMDF), an in vitro diagnostics company focused on distributing comprehensive solutions for COVID-19 screening, diagnosis and immune support, as well as developing blood tests for early detection of cancer and Alzheimer’s disease, today announced $7.15 million in sales for the month of February 2021, representing a 38.1% month over month increase from sales of $5.18 million in January 2021.
The increase in sales was predominantly driven by increased PCR reagent and supply sales from a new New York City (NYC) Tri-State Area client, who recently completed installation and validation of Todos’ turnkey, automated workflow solution, including Tecan™ instrumentation. Todos’ solution enables laboratories to increase revenue through the rapid expansion of processing capacity in order to cost-effectively bring sample processing in-house instead of referencing it out to partner labs. This client will be particularly focused on COVID testing for schools planning to re-open in-person learning. Additionally, Todos expects another one of its pending NYC Tri-State Area clients to become operational and begin to bring sample processing in-house in the coming weeks. This client primarily provides comprehensive testing solutions for skilled nursing facilities.
“We have spent the last several months in execution mode, focusing on optimizing our PCR testing business, aligning ourselves more closely with our world-class engineering consultants, automating sample tracking and data reporting workflows, and training our clients’ lab staff to take on the significant task of reporting results for healthcare and other providers,” said Gerald E. Commissiong, President & CEO of Todos Medical. “Along with the accelerating growth of our main COVID-19 PCR reagents and supply business for labs, we are continuing to optimize our COVID-19 product offering, including working closely with our strategic partner Aditxt (NASDAQ: ADTX) to build the world’s best immune profiling test that will provide information on immunity status to better understand an individual’s risk of infection while easing social restrictions such as in nursing home visits. We are working diligently to complete the acquisition of Provista Diagnostics which will add core molecular testing capabilities to our growing infrastructure and provide a breeding ground for optimized COVID-19 testing panels that will eventually lead to monitoring for derivative COVID-19 monitoring opportunities in early detection of breast cancer and Alzheimer’s disease, especially in long hauler COVID-19 patients.”
Mr. Commissiong continued, “Furthermore, we are extremely pleased with the passage of the American Recovery Act. This vital legislation will unlock the resources needed to implement testing at scale and make our communities safer so children can return to school, and parents can get back to work.”
https://investor.todosmedical.com/news-events...ary-2021-a
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