This Monday, we hear more from Sunnyvale, Calif.-based Arrayit Corporation (OTC:ARYC), a life sciences and personalized medicine company.
The news this time concerns the buzz created on stock markets for the company, on word Arrayit has increased weekly guidance for medical billing associated with its physician-prescribed allergy testing services from $1 million to $2 million per week for fiscal year 2019.
A news release out Monday morning proclaimed that the doubling in guidance is based on medical billing growth during the first quarter of FY2019, the number of new clinics being added to ARYC’s Patient Data Solutions portal, and the rate of allergy testing services adoption in the marketplace.
It goes on to say that Arrayit’s allergy testing services, which empower doctors to identify, manage and treat allergy and asthma using simple finger stick blood sampling, “are raising the standard of care among the estimated 60 million Americans who report annual allergy symptoms.”
According to CEO Rene Schena, “We are pleased to increase our weekly billing guidance for allergy testing services in concordance with increasing awareness and utilization among doctors and patients of our innovative finger stick allergy test to pinpoint food and environmental allergies.”
Shares in Arrayit neared noon EDT on Monday, up 1.865 cents, or 19.4%, to 11.5 cents, on volume of 3.7 million shares.