Read the Beforeitsnews.com story here. Advertise at Before It's News here.
Profile image
By ProactiveInvestors (Reporter)
Contributor profile | More stories
Story Views
Now:
Last hour:
Last 24 hours:
Total:

Todos Medical sales surge 50% month-over-month in December to $4.8M on demand for its COVID-19 testing products

% of readers think this story is Fact. Add your two cents.


Todos Medical Ltd (OTCQB:TOMDF) reported December 2020 sales of $4.8 million, a 50% month-over-month surge, driven mainly by an increase in COVID-19- related reagent and supply sales from its pre-existing clients. 

The company also said it 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.

“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 Todos Medical CEO Gerald Commissiong in a statement.

READ: Todos Medical has developed the technological tools for early disease detection 

He added: “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.”

Todos Medical noted that it added several new clients who have requested automation packages, which the company expects to install in January 2021 and February 2021.

“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,” Commissiong continued.

He added: “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.”

The company also said that as two, potentially large COVID-19 testing clients located in Brooklyn, New York complete the installation of liquid handling automation technology it will allow them to achieve testing capacities of up to 20,000 PCR tests per day.

It added that 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.

Headquartered in Rehovot, Israel, with a strong US presence, Todos is an in-vitro diagnostics company focused on solutions for COVID-19 screening and diagnosis, and developing blood tests for the detection of cancer and Alzheimer’s disease.

Contact Sean at [email protected]

Story by ProactiveInvestors



Source: https://www.proactiveinvestors.com/companies/news/938093/todos-medical-sales-surge-50-month-over-month-in-december-to-48m-on-demand-for-its-covid-19-testing-products-938093.html


Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world.

Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.

"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.

Please Help Support BeforeitsNews by trying our Natural Health Products below!


Order by Phone at 888-809-8385 or online at https://mitocopper.com M - F 9am to 5pm EST


Order by Phone at 888-809-8385 or online at https://www.herbanomic.com M - F 9am to 5pm EST


Humic & Fulvic Trace Minerals Complex - Nature's most important supplement! Vivid Dreams again!

HNEX HydroNano EXtracellular Water - Improve immune system health and reduce inflammation

Ultimate Clinical Potency Curcumin - Natural pain relief, reduce inflammation and so much more.

MitoCopper - Bioavailable Copper destroys pathogens and gives you more energy. (See Blood Video)
Oxy Powder - Natural Colon Cleanser!  Cleans out toxic buildup with oxygen! 
Nascent Iodine - Promotes detoxification, mental focus and thyroid health.
Smart Meter Cover -  Reduces Smart Meter radiation by 96%!  (See Video)

Immusist Beverage Concentrate - Proprietary blend, formulated to reduce inflammation while hydrating and oxygenating the cells.

Report abuse
Loading...

Comments

Your Comments
Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

MOST RECENT
Load more ...

SignUp

Login

Newsletter

Email this story
Email this story

If you really want to ban this commenter, please write down the reason:

If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.