Company Press Release
Monday December 1, 6:34 pm Eastern Time
SOURCE: ZymeTx, Inc.
ZymeTx Begins Shipments of ZstatFlu Influenza Test Kits
OKLAHOMA CITY, Dec. 1 /PRNewswire/ -- ZymeTx, Inc. (Nasdaq: ZMTX - news), a biotechnology company engaged in the discovery and development of products for diagnosis and treatment of viruses, today announced it is completing manufacturing scale-up and is beginning shipment of commercial quantities of its ZstatFlu(TM) influenza test commencing with the North American influenza season. ZstatFlu(TM) is the first and only point-of-care (POC) test that enables medical professionals to diagnose both influenza A & B quickly.
The company expects to produce up to 1 million units of the ZstatFlu(TM) influenza test before the 1997-1998 influenza season ends in March 1998. Sales efforts are targeted to regions where flu-like illnesses are currently being observed. The cost to patients is expected to be in the $30.00 range.
''We are extremely pleased that the commercial rollout of ZstatFlu(TM)is essentially on schedule,'' said ZymeTx President and Chief Executive Officer Peter G. Livingston. ''Timing could not be better since the flu season is just starting in certain regions and we will be able to fill orders as influenza infections proliferate nationally during this winter season. We have been able to do this because the timely and relatively rapid clearance of ZstatFlu by the FDA in Mid-September gave us a sufficient window of opportunity to ramp up commercial production, inform health care organizations of the availability of the test through our marketing efforts and receive orders from health care organizations before the flu season got underway.
''I am confident that the start of shipments this week will allow us to meet our objective of accommodating orders for up to one million test kits in our initial season. Production and shipments will accelerate quickly this month (December 1997), peak in January 1998 and then taper off gradually in February and March 1998, mirroring the annual flu cycle in the United States. The timely start of shipments should also allow us to meet our financial goal of generating revenues for our shareholders in this, our first year as a public biotechnology company,'' Livingston added.
In addition to allowing an efficient and rapid diagnosis of influenza, the ZstatFlu(TM) test is also expected to play a role in reducing health care costs by managing inappropriate prescriptions of antibiotics for upper respiratory viral infections.
Note: Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This news release contains forward-looking statements regarding the company's results and trends in its business. These statements are based largely on management's expectations. The achievement of these results is subject to a number of risks and uncertainties beyond the company's control which may cause actual results to differ significantly. We refer to the company's fillings with the Securities and Exchange Commission, which include a more detailed description of these factors.
ZymeTx, Inc. is a biotechnology company growing out of the research support of the Oklahoma Medical Research Foundation. The company, based in Oklahoma City, is engaged in the development of unique diagnostic and therapeutic products for the intervention and detection of viral diseases. The company's common shares are traded on the Nasdaq Stock Market under the symbol ZMTX.
For more information on ZymeTx, Inc. at no cost, simply call 800-PRO-INFO and Enter ZMTX on a touch-tone phone.
SOURCE: ZymeTx, Inc. |
