Corporate - Media & Press - Press Release
Arrayit Corporation CEO Reports to Shareholders
Source: Arrayit Corporation
On Wednesday October 7, 2009, 7:00 am EDT
SUNNYVALE, CA--(Marketwire - 10/07/09) - Arrayit Corporation (OTC.BB: ARYC)
Letter to Shareholders from the CEO
October 7, 2009
With the start of trading of Arrayit Corporation (ARYC) on the bulletin board in March, 2009, we initiated a deliberate and measured strategy to introduce Arrayit's scientific accomplishments of the past 13 years to our shareholders. As we have laid the foundation for the announcement of future initiatives through this awareness campaign, we have seen interest in our stock steadily increase. After pioneering the development of research tools for genomics (the study of the genetic structure) and proteomics (the study of the proteins produced by the activity of specific genes), Arrayit is now entering the exciting field of diagnostics of disease states.
Our microarray based diagnostic kits for specific cancers and degenerative diseases are in the late stages of development. Arrayit has incorporated novel strategies that greatly improve the accuracy of the tests. Arrayit has demonstrated a unique ability to obtain consistent results where others have failed. In preparation for product launch, Arrayit Diagnostics, Inc. recently opened sales offices in Houston, Texas.
We are also pleased to report that our products are now represented by 44 international distributors with a presence in over 50 nations. For the third quarter of this year, sales are up 41% from a year ago. Our recently announced initiatives with the CDC, Sandia National Laboratory and the Parkinson's Institute are proceeding with remarkable results.
For 13 years we have positioned ourselves with a firm foundation of proven science and global success. We want to thank each of you for your ability to see the big picture and for being in a place to benefit from the contributions these diagnostic tests will make to alleviate personal suffering, and to provide much needed cost savings to the health care industry through early diagnosis and treatment.
Gene specific personalized treatments are in their infancy and with your continuing support, Arrayit will be a major contributor in helping the health care revolution mature.
About Arrayit Corporation
Arrayit Corporation, headquartered in Sunnyvale, California, leads and empowers the genetic, research, pharmaceutical, and diagnostic communities through the discovery, development and manufacture of proprietary life science technologies and consumables for disease prevention, treatment and cure. It now offers over 650 products to a customer base, including most every major university, pharmaceutical and biotech company, major agricultural and chemical company, government agency, national research foundation and many private sector enterprises. Please visit www.arrayit.com for more information.
Safe Harbor Statement
Except for historical information contained herein, statements made in this release that constitute forward-looking statements are based on currently available information, involve certain risks and uncertainties and the Company assumes no responsibility to update any such forward-looking statement. The following factors, among others, may cause actual results to differ materially from the results suggested in the forward-looking statements. Risks that may result from changes in the Company's business operations; our ability to keep pace with technological advances; significant competition in the biomedical business; our relationships with key suppliers and customers; quality and consumer acceptance of newly introduced products; market volatility; non-availability of product; excess inventory; price and product competition; new product introductions, the outcome of our legal disputes; the possibility that the review of our prior filings by the SEC may result in changes to our financial statements; and the possibility that stockholders or regulatory authorities may initiate proceedings against Arrayit and/or our officers and directors as a result of any restatements. Risk factors associated with our business, including some of the facts set forth herein, are detailed in the Company's Form 10-K/A for the fiscal year ended December 31, 2008 and Form 10-Q/A for the fiscal first quarter ended March 31, 2009 and Form 10-Q/A for the fiscal third quarter ended September 30, 2008.
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