Finance

Guided Therapeutics Announces Completion of a $1.5 Million Financing to Accelerate 2020 Business Plan

NORCROSS, Ga.–(BUSINESS WIRE)–Guided Therapeutics, Inc. (Pink Sheets: GTHP), the maker of a rapid and painless cervical cancer detection test based on its patented biophotonic technology, announced today that it had completed a Series E Convertible Preferred Stock Offering in the amount of $1.5 Million. The financing was led by Rosalind Advisors, Inc. and Fieldhouse Capital Management, Inc. (FCMI), and included a combination of current and new institutional and qualified individual investors.

Funds will be used for the U.S. FDA clinical study and approval process, establishing the groundwork for listing on a U.S. national stock exchange, increasing international sales of its products and general corporate business. As reported previously, the Company has reached preliminary agreement with the U.S. FDA regarding its clinical plan and expects to begin its confirmatory study next quarter. In parallel, the Chinese FDA has begun its review of the Company’s LuViva Advanced Cervical Scan and approval in China is expected next year. The Company has applied to uplist from the OTC Pink sheets to the Bulletin Board and expects approval within the next 30 days.

About Guided Therapeutics

Guided Therapeutics, Inc. (Pink Sheets: GTHP) is the maker of a rapid and painless testing platform based on its patented biophotonic technology that utilizes light for the early detection of disease at the cellular level. The Company’s first product is the LuViva® Advanced Cervical Scan, a non-invasive device used to detect cervical disease instantly and at the point of care. In a multi-center clinical trial with women at risk for cervical disease, the technology was able to detect cervical cancer up to two years earlier than conventional modalities, according to published reports. For more information, visit: www.guidedinc.com.

The Guided Therapeutics LuViva® Advanced Cervical Scan is an investigational device and is limited by federal law to investigational use in the U.S. LuViva, the wave logo and “Early detection, better outcomes” are registered trademarks owned by Guided Therapeutics, Inc.

Forward-Looking Statements Disclaimer: A number of the matters and subject areas discussed in this news release that are not historical or current facts deal with potential future circumstances and developments. The discussion of such matters and subject areas is qualified by the inherent risks and uncertainties surrounding future expectations generally and also may materially differ from Guided Therapeutics’ actual future experience involving any of or more of such matters and subject areas. Such risks and uncertainties include those related to the early stage of commercialization of products, the uncertainty of market acceptance of products, the uncertainty of development or effectiveness of distribution channels, the intense competition in the medical device industry, the sufficiency of capital raised in prior financings and the ability to realize their expected benefits, the uncertainty of future capital to develop products or continue as a going concern, the uncertainty of regulatory approval of products, and the dependence on licensed intellectual property, as well as those that are more fully described from time to time under the heading “Risk Factors” in Guided Therapeutics’ reports filed with the SEC, including Guided Therapeutics’ Annual Report on Form 10-K for the fiscal year ended December 31, 2019 and subsequent filings.

This article was originally published on Business Wire

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