Sales of Second Generation FIT® continued to exceed both forecast and expectations in 2017 with a 41% increase from FY 2015. And with two brick-and-mortar retailers in the pipeline for 2018, there are no signs of our marquee product losing traction in the North American market. Overseas, Second Generation FIT® is the number one selling test in Denmark and the Czech Republic. Opportunities for growth are abundant specifically in the Middle East, Germany and the UK.
Beginning in March 2018, Pinnacle will begin to heavily market Archon to the mass market in 26 states in the US. In 2015 when Pinnacle launched Archon, it required four vials of blood be collected from a laboratory and a hefty USD $312 price tag. In the coming months we will announce a micro-collection method using a lancet (similar to testing blood-glucose levels at home) and a retail price of $129.
To compliment our suite of laboratory diagnostic tests, Pinnacle plans to apply for 13 separate FDA clearances in 2018. Additionally, Pinnacle BioLabs has licensed a biometric testing application that can be cross-sold into brick and mortar stores with no prescription. However, the vast majority will include CLIA waived (laboratory) test kits to be marketing and sold to current customers in the physician office setting. Three years ago we recognized a need for value based test kits as physician office labs become more price sensitive. Pinnacle 10SG was our first price-driven concept test to compete with market leaders. We will apply the same value-driven concept on future tests in the CLIA waived market.
2017 also signaled a shift in data-driven analytics. Pinnacle complies online sales statics, seen on the heat-map below, which dictates deployment of company resources (i.e. advertising, sales staff) based on interest by geography.
Already the #1 selling colon cancer screening test in North America, we can now use the same data to expand our products and brand worldwide.
And finally, a look at some of our best achievements to date...
Apart from providing ownership and shareholders with a healthy balance sheet and return on investment and customers with an outstanding product they can trust and rely on, Pinnacle also endeavors to do important work and give back in the communities it serves. While we are proud of our accomplishments to date, and excited for what the future holds, we always strive to help others, deliver on promises, and exceed expectations.
Pinnacle BioLabs in a federally licensed manufacturer of in vitro diagnostics testing, FDA registration number: 3010982075. Pinnacle BioLabs is a CLIA licensed laboratory, CLIA license number: 44D2125377. NPI number 1497269120.
Pinnacle BioLabs holds several patents and trademarks as it relates to its intellectual property to protect its place in the marketplace.
To learn how Pinnacle BioLabs protects its employees, clients and customers see Pinnacle's Mission, Vision and Values page.