From what I can tell, they aren't your typical shady OTC company. They have an upcoming pipeline of tests including one for melanoma, which they have a supply agreement with the FDA. So far, I'm not utterly disgusted, havent purchased but they are someone I will peak on every 1-2 months or so...
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CEO Van Oort, the former COO of Quest Diagnostics and Covance who wrote his own $500,000 check to join the company back in March 2009. Abbott Labs (ABT) also invested $4.8 million in July 2009, at $1.36 per share, and is a 10% shareholder.
Recent Q4 results "Revenue for the fourth quarter 2010 was approximately $8.8 million, a 12% increase over fourth quarter 2009 revenue of $7.8 million. Test volume increased by approximately 13% and average revenue per test stabilized around the same levels as in fourth quarter 2009. Requisitions increased by approximately 12% while average number of tests per case remained nearly the same as in the prior year. After adjusting for the internalization of certain tests by one large client, revenue and test volume growth from all other clients grew by 17% and 20%, respectively.
For the full year 2010, revenue was approximately $34.4 million, a 17% increase over 2009 revenue of $29.5 million. Test volume increased by approximately 26% and average revenue per test decreased by 7%. The reduction in average revenue per test was due primarily to contracts signed with three managed care organizations over the last eighteen months that have lower average-unit pricing. After adjusting for the internalization of certain testing by one large client, revenue and test volume growth from all other clients was approximately 25% and 36%, respectively. "
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