SeeThruEquity Issues Update on Viatar CTC Solutions Inc. (OTCQB: VRTT) Maintaining $4.94 Price Target
NEW YORK, NY / ACCESSWIRE / December 2, 2015 / SeeThruEquity, a leading independent equity research and corporate access firm focused on smallcap and microcap public companies, today announced it has issued an update on Viatar CTC Solutions Inc. (OTCQB: VRTT).
The report is available here: VRTT November 2015 Update. SeeThruEquity is an approved equity research contributor on Thomson First Call, Capital IQ, FactSet, and Zack's. The report will be available on these platforms. The firm also contributes its estimates to Thomson Estimates, the leading estimates platform on Wall Street.
Viatar CTC Solutions Inc. ("VRTT") is a medical technology company focused on the treatment of patients with metastatic cancer. VRTT's mission is to make metastatic cancer a chronic rather than fatal disease, and to reduce the cost of cancer care to healthcare systems. The Company's lead product, the Viatar(TM)Therapeutic Oncopheresis System, removes circulating tumor cells (CTCs) from whole blood using label-free cross-flow filtration. Pending approval for this product is targeted for 2016. Viatar's proprietary technology also powers their liquid biopsy products, which provide a significantly greater quantity and purity of CTCs for personalized medicine by genetic testing companies, researchers and medical oncologists.
Additional highlights from the update are as follows:
Recipient of prestigious health innovation award
On November 12, 2015, VRTT announced that it was chosen to receive the Cavendish Global Health Innovation Award. Viatar CTC Solutions presented their technology during the recent Cavendish Global Health Impact Forum, co-hosted by Cleveland Clinic, which was held from October 25-28. VRTT was chosen from more than 30 companies that presented at The Cavendish Global Health Impact Forum to win this highly respected health innovation award.
Established timeline for future milestones
The presentation at The Cavendish Global Health Forum revealed a clear timeline for the commercialization of its lead products. VRTT expects to complete engineering, manufacturing and animal tests in 1H 2016. VRTT will also apply for CE Mark regulatory approval in 1H 2016 with their estimate to obtain the approval in 2H 2016. Additionally, they expect to conduct pilot human clinical trials for their therapeutic device in the second half of 2016. In late 2016, the Company will begin commercialization in Europe & Canada through direct sales force and distributors. Then in 2017, VRTT plans to begin the FDA regulatory process and conduct pivotal clinical studies.
Announced strong third quarter results
For the third quarter of 2015, VRTT reported sales of $13,985 compared to no sales in the comparable quarter of 2014. For the first nine months of 2015, VRTT reported sales of $37,940 compared to $9,000 for the first nine months of 2014. Earlier this year, those sales were connected to evaluation testing of their filters, but in the third quarter the Company's filters were integrated into a customer's product line for use by medical researchers at prominent cancer institutions.
Maintaining our price target of $4.94
We are maintaining our price target at $4.94 for VRTT, as we believe management is taking the right steps necessary to bring their products to commercialization. VRTT has been collaborating with several other CTC-based diagnostic companies and researchers to optimize the Viatar Collection System for Molecular Analysis to its process flow. Management has been able to present a clear timeline for commercialization and their viable plan to achieve milestones for the coming year. Additionally, VRTT is continuing their efforts in clinical research and seeking opportunities globally.
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About Viatar CTC Solutions Inc.
Viatar CTC Solutions Inc. is a medical technology company focused on the treatment of patients with metastatic cancer. The company's lead product, the Viatar(TM) Therapeutic Oncopheresis System, removes circulating tumor cells from whole blood using label-free cross-flow filtration. Pending regulatory approval targeted for 2016, it will be used as a periodic therapy to improve overall survival for a wide range of solid tumor types such as lung, breast, colon, prostate and gastric cancers. This proprietary technology also powers the company's liquid biopsy products, which are collection systems for use by genetic testing companies, researchers and medical oncologists that provide a greater quantity and purity of circulating tumor cells for their molecular analysis and personalized medicine objectives.
SeeThruEquity is an equity research and corporate access firm focused on companies with less than $1 billion in market capitalization. The research is not paid for and is unbiased. The company does not conduct any investment banking or commission based business. SeeThruEquity is approved to contribute its research to Thomson One Analytics (First Call), Capital IQ, FactSet, Zacks, and distribute its research to its database of opt-in investors. The company also contributes its estimates to Thomson Estimates, the leading estimates platform on Wall Street.
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