Avitar (CE) (USOTC:AVTI)
Historical Stock Chart
From Jul 2019 to Jul 2024
![Click Here for more Avitar (CE) Charts. Click Here for more Avitar (CE) Charts.](/p.php?pid=staticchart&s=NO%5EAVTI&p=8&t=15)
Avitar Inc. (OTCBB:AVTI), manufacturers of nationally branded oral fluid
testing diagnostic devices and customized polyurethane applications used
in wound dressings, announced today that the company is poised to take
advantage of the conversion by several major international companies
from traditional urine-based drug testing to AVITAR’S
ORALscreen rapid on-site test for drugs-of-abuse.
Peter Phildius, Avitar’s Chairman and CEO,
said, “We are very pleased with the response
that our Canadian distribution partner and our ORALscreen technology are
receiving from major international corporations and their suppliers.
Together we have identified opportunities that could generate up to
$500,000 in sales over the next twelve months as these companies begin
to convert from urine-based testing to our on-site oral fluid drug tests.”
Phildius continued, “We are looking forward to
the Canadian market’s continued growth and
believe that this opportunity presents an exceptionally strong revenue
opportunity for AVITAR in the months ahead.”
The ability of oral fluid technology to detect recent drug use more
effectively and conveniently than traditional urine-based testing will
play a key role in better serving the needs of Canadian employers.
Canadian corporations face a dilemma due to the fact that substance
abuse is considered a disability, which must be dealt with via employee
assistance programs, yet they are also charged with maintaining a safe
workplace. The convenience of Avitar’s
ORALscreen on-site tests combined with the ability to detect on-the-job
drug abuse will play an important role in addressing this conflict those
employers in Canada face.
Most drug metabolites can not be detected in urine until several hours
post-consumption. As a result urine is useful for detecting historical
drug abuse, while not as effective at detection during the impairment
period for most drugs. On the other hand, comparable research notes that
the detection periods for oral fluid are earlier and shorter, for
marijuana as example, detection extends from within minutes of
consumption, out to a maximum of 18 to 24 hours. This factor helps to
protect employees’ rights to privacy “off-the-job”
as well as “on-the-job”
safety.
Avitar’s positioning as a consultative
drug-free workplace technology and services provider, is expected to
play an important role in the development of comprehensive, effective
drug-free workplace programs in Canada.
About Avitar, Inc.
Avitar Inc. develops, manufactures and markets innovative proprietary
products. Markets include fluid diagnostics, disease and clinical
testing, and customized applications for wound dressings. Principal
products include ORALscreen®, (the first
non-invasive, rapid, onsite oral fluid test for drugs-of abuse), and
Hydrasorb®, (an absorbent topical dressing
for moderate to heavy exudating wounds). Avitar is also developing
diagnostic strategies for disease and clinical testing in the estimated
$25 billion in-vitro diagnostics market. Conditions targeted include
influenza, diabetes, and pregnancy. For more information, see Avitar's
website at http://www.avitarinc.com.
Avitar Inc. is a fully reporting company whose stock trades on the OTCBB
under the symbol “AVTI.OB”.
For information, contact Investor Relations 781-821-2440 - Peter
Cholakis, VP – Marketing.
Forward-Looking Statements
This release contains forward-looking statements that are subject to
risks and uncertainties including the development and marketing of new
applications and other risks that are detailed from time to time in the
Company’s filings with the Securities and
Exchange Commission. In view of such risks and uncertainties, the Company’s
actual results could differ materially from those anticipated in such
forward-looking statements.