NZAX-listed TruScreen has received payment for an initial order from its Chinese distributor following China Food and Drug Administration approval for its TruScreen2 device.
The Auckland-based cervical cancer test developer said it has received $188,000 as an initial payment for the new device. "The company is now producing consoles at its maximum capacity to meet current and anticipated orders from China which is our largest target market," said TruScreen chair Robert Hunter in a release.
TruScreen, which posted a 30 percent drop in revenue and widened its loss in the first half to Sept. 30 on delays to Chinese approval for its cervical screening device, said China issued its formal certificate of approval permitting the commercial supply and sale of new upgraded TruScreen2 cervical cancer screening device earlier this month.
The company's real-time cervical cancer technology uses a digital wand which is placed on the surface of the cervix to measure electrical and optical signals from the surrounding tissue. It currently has signed distribution agreements covering 24 countries with a focus on China, India, Russia and Mexico.
The stock last traded at 16 cents and has lifted 6.7 percent over the past 12 months.
This article is tagged with the following keywords. Find out more about MyNBR Tags
- Russell McVeagh incident highlights complications of corporate sponsorship
- Sir Ralph explains why he didn’t listen but NZSA calls it a failure of governance
- Could Nikki Kaye lead National one day? A wee problem
- Poor facing double whammy when road congestion pricing gets off the ground
- The highest paid directors
Most listened to
- Ian Apperley goes cold turkey on social media, and claims he's now a better man
- Auckland Airport's CEO Adrian Littlewood explains the impact of price changes on revenue
- Competition lawyer Michael Wigley supports the Criminalisation of Cartels Amendment Bill
- Roadtrippers deal is a gamechanger, says Tourism Holdings CEO Grant Webster
- The sub-contracting model is killing the New Zealand construction industry, says E tū's Ron Angel
- NBR Radio: The best interviews – updated daily, with Grant Walker