Guided Therapeutics, Inc. Plans to Raise $9.7 Million in Stock Offering
11/15/2012 7:58:12 AM
Guided Therapeutics plans to raise $9.7 million in a stock offering. (OTC BB and OTC QB: GTHP) develops obiophotonic technology that utilizes light to detect disease at the cellular level. Guided Therapeutics p;ans to issue 15,167,448 shares, according to an S-1 filing with the Securities & Exchange Commission. Like many early stage med tech companies, Guided Therapeutics has been bleeding red ink. The company reported a net loss of $6.6 million in 2011, nearly three times the $2.8 million loss it reported the prior year. For the nine months ended September 30, Guided Therapeutics had a net loss of $3.2 million. Management has implemented reductions in operating expenditures and reductions in some development activities. "We have determined to make cervical cancer detection the focus of our business," Guided Therapeutics noted in the S-1. "We are managing the development of our other programs only when funds are made available to us via grants or contracts with government entities or strategic partners. However, there can be no assurance that we will be able to successfully implement or continue these plans." Guided Therapeutics is commercializing the LuViva Advanced Cervical Scan and Cervical Guide single-patient-use disposable.