I had a conversation with Radient's I.R. department and I thought there were four items that might be of interest to the board as follows:
1. The negotiations with the creditors regarding the debt conversion is ongoing; nothing has been agreed upon.
2. Radient has had no talks with SRL in India. Guar Diagno is still there exclusive distributor. The comments that Garza has published is based solely on information that he obtained and Radient has no knowledge about a relationship other than what Garza has published.
3. It was disclosed in the 10K that the company had a limited amount of the "marker" used in the Onku-Sure test. They still have not found a solution to this problem.
4. Kristine is still with the company.
I'm assuming she meant "outside the USA."
I don't see Radient doing anything more in the USA. Too easy to disprove their hype PR's and they certainly don't have any money for further FDA clearances.
The other thing they really need to focus on, is getting this test into those freestanding cancer detection places that do fullbody scans. Boomers will pay out of pocket for this, and an additional test w onkosure would just be a double check. YEs, I know they'd need standing orders from a physician and a phlebotemist avail, but I think maybe it could still be done.
Lakeshore, USFDA clearance to monitor lung cancer would probably need a PMA because there is no predicate. That is why they went after CRC so they could tag on with CEA. The problem is that it is not overall better than CEA and Grifols appears to have given up on selling Onko Sure. They did not even attend the ASCO this year. Last year, they exhibited Onko Sure.
The very first lab in the US that signed after FDA clearance ceased to offer the test due to lack of demand. Radient made a big deal when they signed. It is just the way things are headed for Onko Sure.
No sales is why there is going to be 485 million shares outstanding...maybe a lot more.
Julie, I agree 100%. The best aspect of that is RPC will be entering all the markets that Onko-Sure detects cancer in simultaneously.
When you have a choice of multiple good things, you can choose to have them all.
Best wishes to all.
Longer and stronger.
onko-sure has better specificity/sensitivity numbers for lung cancer. Pity that this company was so poorly managed. They probably should have gone after lung cancer from the start.
But lung cancer is not like CRC. For high-risk smokers, chest x-rays are not very expensive, and are covered by insurance.
They've been trying to sell onko-sure for years in Canada as a lung-cancer test. It isn't selling. The fact is, revenues are dropping, except for one big order in December.
That means doctors who try it do not re-order it.
If onko-sure was a viable product, revenues would at LEAST stay flat, and increase as the cost of the kit increases. The $250 kit now costs $400, I believe.
They didn't market this test as an adjunctive test, and that is what they are doing now. There is no approval by FDA for a pancancer screen and that is initially how they approached the marketing. Once physicians are aware of this product they'll use it. I think the screening of highrisk smokers is even a better potential market than using it with CEA test. IMO
A product that has been in existence for years and generated less than $50,000 in sales the last six months.
Where's the market/demand?
The company lost more than $80,000,000 to generate virtually no sales.