PHOENIX, May 16, 2018 (GLOBE NEWSWIRE) -- Guided Therapeutics, Inc. (OTCQB:GTHP) (the “Company”) announced CEO Dr. Gene Cartwright’s interview on Uptick Newswire’s "Stock Day” podcast with Everett Jolly.
Guided Therapeutics has developed a cervical cancer screening device called LuViva®. It is a rapid, painless testing platform based on photonic technology that uses light to detect cellular abnormalities that signify cancer. LuViva® has two distinct advantages over current methods of cervical cancer screening, in that it does not require a patient sample, and can give results in about one minute.
This product could revolutionize healthcare in the developing world. According to Dr. Cartwright, only about 10-15% of women in developing countries are tested for cervical cancer. The resources to conduct traditional lab tests are limited, and LuViva® provides a viable alternative able to be used at the point of care. The product is already selling in Indonesia, Turkey, Nigeria, Kenya, and Bulgaria, with plans to begin distribution in China, India, Russia, Poland, and Hungary.
LuViva® is based on a razor / razorblade model, with two parts to the product. The instrument is sold for the cost it takes to make it, roughly $15,000-$20,000, while the disposable (one per patient) has an 80% profit margin. The product is starting to see commercial success with growing sales in Indonesia, the fourth most populous country in the world. Multiple states in the country have approved LuViva® as the primary cervical cancer screening device, and the company is expecting sales to increase dramatically.
When asked about the FDA approval process, Dr. Cartwright said that it has been a long road. Once the company has the proper funding, it is expected that the confirmatory study, final talks with the FDA, and, ultimately, approval of the product for US distribution will take around 18 months. The company has worked hard to reduce their burn rate dramatically, and is now focused on growing sales. “We’re targeting big accounts, government accounts like the Ministry of Health in Turkey and others like that,” says Dr. Cartwright, “We believe we have a bright future… We’re trying to introduce a new medical technology to the developing world.”
To learn more about the company’s path to FDA approval, market potential, and future plans, follow the link below to hear the interview in full.
About Guided Therapeutics Inc.
Guided Therapeutics, Inc. is a medical technology company focused on developing medical devices. The company focuses on marketing LuViva, a non-invasive cervical cancer detection device that identifies cervical cancers and pre-cancers painlessly, non-invasively, and at the point-of-care by scanning the cervix with light, then analyzing the light reflected and fluorescent light. It is also developing a non-invasive esophageal cancer detection product using its biophotonic technology platform. The company was formerly known as SpectRx, Inc. and changed its name to Guided Therapeutics, Inc. in February 2008. Guided Therapeutics, Inc. was founded in 1992 and is based in Norcross, Georgia. For more information, please visit http://www.guidedinc.com/
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Guided Therapeutics (OTCQB:GTHP)
Dr. Gene Cartwright, CEO
About Uptick Newswire and the “Stock Day” Podcast
Uptick Newswire is a private company reaching out to the masses keeping investors and shareholders up to date on company news and bringing transparency to the undervalued, undersold, micro-cap stocks of the market and is the sole producer of the Uptick Network “Stock Day” Podcast. The Uptick Network “Stock Day” Podcast is an extension of Uptick Newswire and has recently launched the Video Interview Studio located in Phoenix, Arizona.