Guided Therapeutics Submits Proposal to Kenya to Increase Cervical Cancer Screening Rates - Potential Screening Population of 12 Million Women
8:05 am ET August 20, 2015 (BusinessWire) Print
Guided Therapeutics, Inc. (OTCQB: GTHP), in cooperation with its distributor, Stem World Enterprises, is working with the Kenyan National Ministry of Health (MOH) to help achieve First Lady Margret Kenyatta's Beyond Zero program goal of screening up to 12,000,000 Kenyan women for cervical cancer. President Uhuru Kenyatta himself has set a target of screening half the female population for cervical cancer each year.
The proposal to help achieve the national target, if adopted, is to place approximately 100 LuViva Advanced Scans at all Level 4 and 5 hospitals, as described in an article in Kenya's Daily Nation. The plan is to screen more than 1,000,000 women in the first year, and expand the program in years two, three and four. Additionally, several counties that maintain their own hospitals would implement a complementary screening program with LuViva. The first county to implement the program, if accepted, would be Nairobi County Health Services Sector, which has plans to screen approximately 10,800 women per month. The Company is awaiting the final response from the government regarding the proposal.
"We are pleased to have made the proposal to the Ministry of Health, Beyond Zero and the counties to bring the latest in early cervical cancer detection technology to the women of Kenya," said Gene Cartwright, CEO and President of Guided Therapeutics. "President Kenyatta's goal of screening fifty percent of Kenyan women annually will have a highly positive effect that will result in a significant reduction in the rate of cervical cancer."
"This proposal is a real opportunity to bring new, impactful technology that produces an instant result, while avoiding the logistics issues that plague lab tests, so treatment can occur immediately, if necessary," said Alphonce Omondi, CEO of Stem World. "The President's goal and First Lady's determination to eradicate cervical cancer is something we are pleased to be a part of and support."
Cervical cancer is the leading cause of cancer deaths among women in Kenya, according to the MOH. According to the World Health Organization, there are 10.32 million women in Kenya at risk of developing cervical cancer. Every year, approximately 2,454 women are diagnosed with cervical cancer and 1,676 die; the largest proportion of deaths is concentrated in Nairobi County. It is estimated that there are 15 new cases of cervical cancer diagnosed each week in Nairobi alone. These statistics mean that an estimated 12.7 women out of every 100,000 are affected.
We need good news from Kenya soon! Bangladesh probably later this year. After the Turkey order we need to prove we can generate revenues in other countries. A big order from Kenya is a game changer. Especially if the order is at large as Turkey. I think they are close. First lady supports the idea and their congress passed the funding. I am hoping we get good news sooner rather than later. We can use the help in order for these shares to that start trading above 10 cents and hopefully consolidate @14 cents. The company is not going BK but orders sooner rather than later are needed badly or the stock will continue to be under pressure. With Kenya warrants will be executed and funding with deposits from Kenya and Turkey in addition to non dilutive funding to buy parts puts us in a path that further dilution will not be needed.
Agree. I feel Kenya is do or die for this company. If they deliver a large order for Kenya the stock will finally resume an uptrend and things will work out for GTHP. That is a big if. Can they deliver a large PO from Kenya before the end of October? I do not know. What I know is that Gene can not avoid the question and he better provide clarity with a strong answer.
This stock has the tendency of moving ahead of the news. I am watching for volume (accumulation) with a slight upwards bias. Resistance is at 14 cents.
It is my understanding that the Gates Foundation might provide some funding for the purchase of Luviva in Kenya. That would be a huge step forward. If the program is as a large as I hope, it can lead to the roll out of Luviva to other African countries. Nigeria has already tested Luviva. Extremely encouraging. As a stated before, I think the stock is very attractive at current levels and financing was only possible because large orders are near. A large order from Kenya can easily double the stock price from these depressed levels.
GTHP continues to expect large international orders. Hopefully, the company can execute. I do not think the financing deal would be possible without these orders to be very close to reality. I hope to see an announcement soon to change the sentiment towards GTHP. People are cynical for good reasons, but I really do not think new investors would putting $4mm in GTHP without some certainty of new orders.
I understand GTHP trading at 8-10 cents after the FDA announcement earlier this year. Obviously, any chance for FDA approval is now a 2016-2017 event and the company was out of cash. BK was a likely scenario back then (maybe as high as 80 percent). However, since the bad news from the FDA, GTHP announced a large order from Turkey and completed financing that will enable the company to operate until Q4 of this year. With BK out of the question in 2015, investors should buy this beaten down stock. The catalyst will be orders going forward. The reason the company was able to get financing IMHO, is because large orders are expected sooner rather than later. I am critical of Gene "Any Day Now" Cartwright, but feel the large order from Turkey a couple months ago can not be ignored. As we wait for Mexico, Bangladesh, Nigeria, and Kenya orders current levels are attractive.
HUGE order. We only have about 20 machines in inventory. Finally time to get busy. This is a game changer. Finally the large order we desperately needed. Now with some luck we get some follow-up orders from Kenya and Bangladesh in 2 months.... Makes GTHP a buy at these levels IMHO. Now they can get bridge financing and the stock has finally bottomed.
My biggest loss on any stock for at least 8 years. Let's just say the CEO (Gene Cartwright) has at least grossly embellish the prospects of the company during his tenure. My worse spec ever. They should sell the technology but they will do some bridge financing instead with additional dilution. The stock might be reacting to be imminent news of additional financing and dilution. The only hope is a large order. Becoming increasingly doubtful at the present time. My bad for listening to Gene "Any Day Now" Cartwright. FDA approval is at least 18 months away, they are out of money, more dilution on the way, and so far no orders.
If the company can announce shortly 1 or 2 large orders financing is a lot easier to handle. However, if Gene has no orders to announce he should announce the company is for sale. In my opinion those are the options. What is the point of further dilution if he has no orders.
Either you have some large orders to announce very soon or you need to sale the technology. Those are your options. Cartwright have discussed the opportunities with Kenya, Bangladesh, Turkey, Nigeria, Mexico, etc. Instead of doing your impersonation of Nero playing the harp as Rome is burning either announce some orders or sale the technology. So I hope Godot is knocking at the door and orders are coming soon. Anyhow, as Don Quixote (Gene) is charging against the windmills, your shareholders have no interest in playing the role of Sancho Panza.
Obviously the company needs to raise cash. Let's hope GTHP can finally announce those large orders Cartwright keeps discussing. If the company can finally get one of two large orders (Kenya, Mexico, Bangladesh, Turkey, etc....) the future of the company can change drastically. If orders are not in the pipeline in June then GTHP should place the company on the selling block and get as much as they can for the technology.
Everything was going well with Guided Therapeutics Inc (OTCBB:GTHP, GTHP message board), until the company published its disastrous announcement on Tuesday.
Needless to say that all GTHP enthusiasts were eagerly expecting the FDA's approval of the company's product. There was only one possible reaction from said investors when they were slapped with the announcement that said approval was not given.
In spite of GTHP's reassuring words that the FDA simply wants more data “before granting approval”, many investors abandoned ship – and who could really blame them?
Put simply - a lot depended on this approval. It was a crucial step on GTHP's road to profit, and now it has been delayed for who knows how long. Now, medical companies run into that sort of thing all the time, and to be honest, this turn of events would not be all that big of a deal, if the company's latest financial report didn't look like this:
Cash and cash equivalents - $18 thousand
Total current assets – $1.5 million
Total current liabilities – $5.1 million
Sales - $127 thousand
Net loss - $1.2 million
With so little cash on hand, GTHP can ill afford to wait any amount of time at all. By all accounts, it looks like it may be forced to rely on selling more stock to fund its operations, so prudent investors should probably look out for more dilution.
The silver lining in this whole situation is that the other part of the report is actually not that disastrous – especially if you consider the fact that $714 thousand of the $1.2 million reported under “net loss” can be attributed to Change in fair value of warrants.
It's up to investors to decide what to make of all these facts, but a word of warning is probably in order here. GTHP seems to be walking on thin ice, and with this latest delay, it now seems like said perilous walk just got extended – perhaps drastically.
Yes sales "any day now" according to Gene. Oops he said that 6 months ago and we are still waiting for orders. He even double production capacity ahead of those "large orders"in the fall of 2014. Well we have the manufacturing capacity....
Sale the company to Imhoff or a private investor for @25 cents and call it a day. Let's see what Gene says tomorrow. We are down to the sample data is too small but another PMA will take too long IMHO. Curious what Gene will say about other paths to approval.
Me too. Personally think an approval with "conditions" (best case) ahead of financing you might see 50 cents. 75 cents would be max IMHO. FDA next week but no one is adding here. Show me stock. Well we need good FDA move or stock dilution will make GTHP a sub 10 cents stock. I bought because of the product so I am hoping for good FDA news. FDA is on the brink of killing this company. What a shame.
I believe GTHP paid the interest in the preferred shares with stock instead of cash.