Atossa Genetics (ATOS) is focused on the national rollout of the company’s ForeCTYE test, designed to detect breast cancer before its onset, as well as the introduction and launch of three other tests, and is growing organically as it generates revenue from ForeCYTE, says Dr. Steven Quay, CEO of Atossa Genetics, Inc.
“We announced during January the national rollout of the ForeCYTE test in collaboration with our comarketing partner, Clarity Women’s Health of Boca Raton, Florida. This program is intended to introduce the approximately 33,000 OB/GYN doctors and clinics in the country to the ForeCYTE test and to persuade many of them to offer the test to their patients,” Quay said.
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ATOS is also eyeing the introduction and launch of three other tests: FullCYTE, a detailed assessment of women identified by the ForeCTYE test; NextCYTE, a cancer prediction test performed on cancer specimens; and ArgusCYTE, an annual blood test for breast cancer survivors. With the three additional tests and revenue generating from the rollout of ForeCYTE, Atossa Genetics it looking to grow organically through the growth in test volume, yet is also eyeing additional equity capital, Quay says.
“We were able to raise approximately $4 million in our November 2012 IPO, which was less than the $6.5 million that we wanted to raise. Because we are generating revenue now from the test that we are performing, we are able to grow our business organically through the growth in our test volume. But to be opportunistic and to be most aggressive in growing the business, access to additional equity capital is important,” Quay said.
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