FinancialBuzz.com’s latest Buzz on the Street Show: Featuring Our Corporate News Recap on “Todos Medical Announces $3.2 Million in Sales for November 2020, a 269% Increase Sequential Month over Month Sales Growth from October 2020.”
Todos Medical Ltd. (OTCQB: TOMDF), an in vitro diagnostics company focused on distributing comprehensive solutions for COVID-19 screening and diagnosis, and developing blood tests for early detection of cancer and Alzheimer’s disease, today announced $3.2 million in sales for the month of November 2020. This represents a 269% increase in monthly sales as compared with October 2020. The majority of the increase in sales occurred in the second half of November 2020 following the completion of Tecan® liquid handler automation installation at Todos’ Wisconsin COVID-19 testing lab client and the receipt of purchase orders for reagents to support increased testing demand expected in response to increased travel resulting from Thanksgiving 2020 holidays. Concurrent with this announcement, the Company was cash flow positive in November 2020 for its COVID-19 testing business, and has secured $2 million in traditional receivables financing that the Company believes will significantly reduce the time between invoicing to clients and the time that cash is received.
Headquartered in Rehovot, Israel, Todos Medical Ltd. (OTCQB: TOMDF) engineers life-saving diagnostic solutions for the early detection of a variety of cancers. The Company’s state-of-the-art and patented Todos Biochemical Infrared Analyses (TBIA) is a proprietary cancer-screening technology using peripheral blood analysis that deploys deep examination into cancer’s influence on the immune system, looking for biochemical changes in blood mononuclear cells and plasma. Todos’ two internally-developed cancer-screening tests, TMB-1 and TMB-2, have received a CE mark in Europe. Todos recently entered into an exclusive option agreement to acquire U.S.-based medical diagnostics company Provista Diagnostics, Inc. to gain rights to its Alpharetta, Georgia-based CLIA/CAP certified lab and Provista’s proprietary commercial-stage Videssa® breast cancer blood test. The transaction is expected to close in the third quarter of 2020.
For more information, please visit: Todos Medical Ltd.
About Buzz on the Street: One of FinancialBuzz.com’s latest corporate and financial news shows, covering the latest trending stock market news. Buzz on the Street looks to become a leader in corporate video news dissemination. Buzz on the Street is 100% original content, brought to you by Financial Buzz Media.