Business
Todos Medical Announces $867,000 in Sales for October 2020
Todos Medical Announces $867,000 in Sales for October 2020.
About this update from Todos Medical Ltd.
[{"type":"text","content":"\n  Sales primarily made up of extraction reagents  Wisconsin client received request from State of Wisconsin to increase PCR testing by 200%  Liquid handlers that increase capacity to 20,000 qPCR (4x of current capacity) tests per day delivered to Wisconsin client  Wisconsin client per test revenue expected to increase 267% upon addition of qPCR kits to its weekly order in second half of November once liquid handler validation is complete NEW YORK, NY, REHOVAT, ISRAEL, SINGAPORE, Nov. 12, 2020 (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 the early detection of cancer and Alzheimer’s disease, today announced revenues for the month of October of $867,000, representing a 147% month over month increase in sales. The revenues were primarily made up of extraction reagents sales. Current weekly orders for our extraction reagents have increased to over 40,000 units per week for our legacy clients. The Company is currently assisting its 5 largest contracted clients to complete qPCR kits validations and expects revenues from those qPCR kit sales to begin towards the end of November 2020, at which point the Company’s clients will have capacity to run over 350,000 tests per week. “The month of October was critical for Todos as we continued to build the infrastructure needed to support sales growth in our extraction reagents business, and began preparations for the addition of qPCR kits as a major revenue driver heading into the winter months,” said Gerald E. Commissiong, President & CEO of Todos Medical. “We have made considerable investments to help our clients automate various lab processes to improve efficiency, capacity and quality control for COVID testing. We have identified suppliers and have now sourced large quantities of vital accessories, such as manual and robotic pipette tips and qPCR plates, that are in extremely short supply in the lab services market as testing increases worldwide. With this access to the key workflow items needed to scale our clients now firmly established, we are assisting our lab clients reach larger testing capacities just as we are seeing a record spike ...