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Todos Medical, Ltd. (OTCQB: TOMDF) commends the passage of the American Recovery Act, which allocates $50 billion for COVID-19 testing and genomic sequencing.
CEO Gerald Commissiong emphasized the funding's potential to bolster Todos' screening products and support early detection initiatives for SARS-CoV-2, cancer, and Alzheimer’s disease. The Act aims to address systemic COVID-19 testing issues and promote antiviral solutions. Todos is advancing its 3CL protease diagnostic tests and is marketing the dietary supplement Tollovid, while preparing to launch Tollovir for clinical trials.
Todos Medical Ltd. (OTCQB: TOMDF) reported $2.0 million in revenues for Q3 2020, primarily from sales of ANDis 350 machines and reagent kits. The company secured a significant $47.5 million contract with a Wisconsin client, increasing kit purchases from 2,100 to 3,500 per day. They aim to generate over $60 million by Q2 2021, bolstered by ongoing reagent sales. With a focus on expanding COVID-19 testing solutions, Todos expects to become cash flow positive by late Q4 2020, driven by new FDA-approved qPCR kits.
Todos Medical Ltd. (OTCQB: TOMDF) reported total revenues of $2.0 million for Q3 2020, driven primarily by sales of ANDis 350 automated extraction machines and extraction reagent kits. The company received initial payments from a $47.5 million contract with a Wisconsin client, which increased average daily kit purchases from 2,100 to 3,500. Todos anticipates generating over $60 million from existing contracts by Q2 2021. They expect to achieve cash flow positivity by mid-Q4 2020, with plans to expand their COVID-19 testing capabilities significantly.
Todos Medical Ltd. (OTCQB: TOMDF) announced an exclusive supply agreement with Integrated Health LLC for mobile CLIA laboratories to enhance COVID-19 testing capabilities. Initially, the Mobile Labs will conduct 1,000 PCR tests every 8 hours, with potential to scale to 3,000 tests. The initiative aims to address the pressing need for efficient mobile testing solutions across the U.S., especially as the pandemic evolves. The first Mobile Lab is undergoing CLIA validation and is expected to begin operations in October 2020, highlighting Todos' commitment to improving testing quality and accessibility.
Todos Medical Ltd. (OTCQB: TOMDF) has entered into an exclusive branding and distribution agreement with Melbourne Biotech to supply RT-PCR machines in the U.S. This strategic partnership aims to bolster Todos' mobile high-complexity CLIA lab project, expected to commercialize by early Q4 2020. They plan to deliver 100-200 RT-PCR machines monthly, enhancing COVID-19 testing capabilities. Todos also engages in cancer and Alzheimer’s diagnostics, further expanding its market reach. The company is positioned to support safe community openings amid the ongoing pandemic.
Todos Medical Ltd. (TOMDF) announced its participation in the LD 500 investor conference, happening from September 1-4, with a presentation scheduled for September 3 at 4:00 PM EST. President & CEO Gerald Commissiong will address a live audience. This virtual event marks a significant opportunity for investors to engage with unique microcap companies amid COVID-19 challenges. Todos focuses on early detection technologies for cancer and Alzheimer's, having recently acquired a diagnostics company to enhance its offerings. For more details, visit Todos Medical's website.