Guided Therapeutics, Inc. (OTC Pink: GTHP) is the developer of LuViva, a rapid and painless test for the early detection of disease that leads to cervical cancer. Shares jumped 55% through early trading on Monday, November 26, 2018. Over the past month, Guided Therapeutics, Inc. has seen an average daily volume of around 38.8 million shares. However, through Monday morning, already over 225 million shares have traded hands, equating to $315,000 in dollar volume.
Shares jumped Monday morning after Guided Therapeutics, Inc. announced that Indonesia has placed a purchase order for four LuViva devices and 4,500 single-use Cervical Guides. This will bring Indonesia’s total purchased devices to 31, with ⅓ of these shipped in the last year. The majority of the LuViva devices have been placed into regional health clinics as The Bali Provincial Health Office continues to expand its usage into their women’s health programs. There are roughly 2.6 billion women aged 15 years and older who are at risk of developing cervical cancer worldwide, with the market for screening and diagnostics currently estimated at $6 billion but expected to reach $9 billion by 2020.
Guided Therapeutics, Inc. Press Release:
Guided Therapeutics, Inc. (PINK SHEETS: GTHP) reported today that its distribution partner for Indonesia, the world’s fourth largest country, placed purchase orders for four LuViva devices and 4,500 high margin, single use Cervical Guides. The four additional units bring the total sold and placed in Indonesia to 31, with approximately 1/3 of these units shipped in the last year.
To date, many of the units have been placed by The Bali Provincial Health Office into regional health clinics as they continue to expand LuViva usage in their women’s health program. The sizable number of single-use Cervical Guides ordered continues the trend of higher usage rates, as each patient test requires a new Cervical Guide.
“As we indicated in our last update regarding Indonesia, we expected additional orders for the quarter. Sales revenue for Indonesia for this quarter is on par with our previous best quarter there, and along with the sale of 6,500 Cervical Guides, it is easily our most profitable,” said Gene Cartwright, CEO. “We expect continued sales growth next year based on projections from our distribution partner.”
There are about 2.6 billion women aged 15 years and older who are at risk of developing cervical cancer worldwide. The world market for cervical cancer screening and diagnostics, as currently practiced using cytology (Pap test) for primary screening, is estimated at $6 billion and is projected to grow to almost $9 billion by 2020.
About LuViva® Advanced Cervical Scan
LuViva is a technologically advanced diagnostic device that scans the cervix with light and uses spectroscopy to measure how light interacts with the cervical tissue. Spectroscopy identifies chemical and structural indicators of precancer that may be below the surface of the cervix or misdiagnosed as benign. This technique is called biophotonics. Unlike Pap, HPV tests or biopsies, LuViva does not require laboratory analysis or a tissue sample, and is designed to provide results immediately, which may result in eliminating costly, painful and unnecessary additional testing. LuViva is intended for use with women who have undergone initial screening and are called back for follow up with a colposcopy examination, which in many cases, involves taking a biopsy of the cervix. It has also been used in clinical studies in Turkey, Nigeria and Indonesia as a means to screen women for cervical cancer where the availability of infrastructure necessary for Pap and HPV testing is restricted. The device is used in conjunction with the LuViva® Cervical Guide single-use patient interface and calibration disposable.
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.
Article By: Andrew Rego