Fourth Quarter 2020 Report
January 24, 2021
Annual Revenue Tops $2.2 Million, 7-fold Increase over 2019
For the 12 month period ending in December, 20/20's revenue exceeded $2.2 million (unaudited) for all products compared to $288,000 during calendar year 2019. While coronavirus associated testing accounted for about 80% of yearly revenues, sales of our traditional products also grew about 25%. Despite an overall decline in routine cancer screenings nationwide during the pandemic our OneTest revenues increased 30% year-over-year.

We anticipate strong revenues in the 1st and 2nd Quarters resulting from COVID-19 PCR and antibody lab testing and distribution of rapid antibody and antigen tests. We also received our largest purchase order ever for OneTest from the Fairfax County Fire Department using a $160,000 grant from FEMA.
County Taps 20/20 for Covid Testing
On Christmas Eve we entered a contract with the Health Department of Montgomery County Maryland (home to 20/20) to provide COVID-19 testing using a newly installed suite of PCR testing equipment in our CLIA lab. Beginning this month, following software integration between our lab and the County portal, we expect our average coronavirus test volume to grow from 700 tests per week to over 2,000.

Beyond viral testing, we plan to use this testing infrastructure to offer circulating tumor DNA (ctDNA) testing as an addition to our OneTest blood test for early cancer. Recent published studies have revealed the value of combining DNA with protein biomarkers to aid in the early detection of many cancers.
20/20 Develops Quantitative Covid Antibody Test Using Fingerstick Blood Samples
Last month we acquired a new FDA authorized blood test made by Roche Diagnostics that quantitatively measures antibodies against the coronavirus’ spike protein, the target of most vaccines. Experts believe that tests of this nature will be key to monitoring the strength and duration of immunity following vaccination. Quantitative tests permit individuals to monitor changes in their antibody levels over time and may help assess susceptibility to future infections. Information about that test may be viewed here.

This lab test was originally designed for use with venous blood which poses barriers to widespread adoption since a trained phlebotomist is required. We have therefore developed and validated a version of test using capillary blood collected via fingerstick. This will permit the test to be administered at pharmacies where tens of millions of Americans are expected to receive their vaccines over the coming months. To our knowledge we are the first to market a fingerstick collection kit for use with this particular quantitative antibody test.

Read press release here.
equity crowdfunding concept isolated on black background
20/20 Raises $3.8 million through Equity Crowdfunding
In 2020 we raised about $3.8 million through our Reg. A+ offering. The campaign began on StartEngine and then transitioned to SeedInvest. We expect to re-start our equity crowdfunding campaign in a few weeks. Furthermore our Board and advisors are considering several options to offer shareholder liquidity in the near term. Please be on the lookout for announcements of future developments.
Cancer Screening Data Sets Grows 700% to 230,000 Individuals
In the 4th Quarter we substantially increased our real-world data sets used to power and improve OneTest for cancer. Originally build with real-world data from 28,000 individuals visiting health check centers in East Asia, our data set has grown now to over 230,000. Importantly, we now have yearly (serial) test data from some individuals who were diagnosed with cancer. This will help us assess the importance of biomarker trajectory or velocity.
Multi-Cancer Detection Blood Test Companies Acquired for $ Billions
Two companies with blood tests for early detection of multiple cancers were recently acquired. Grail was acquired for $8 billion in September by Illumia and Thrive was acquired for $2.15 billion by Exact Sciences, the provider of Cologuard. Unlike 20/20's OneTest which measures tumor antigens, the acquired products target circulating tumor DNA (ctDNA), requiring a far more expensive and complex testing process. Illumina announced that their test, branded Galleri, will be launched in the 2nd Quarter at a price of between $600 to $1,000. OneTest lists for $189.

We are exploring the feasibility of positioning our product as an affordable pre-test for Galleri and other ctDNA tests as the accuracy of combining tumor antigens with ctDNA has been shown to be superior to either analyte alone.

Our previous Quarterly Reports and Press Releases may be downloaded here:
Financial Reports
In order to maintain our Reg. A+ Qualification we are required to file Annual and Semiannual Reports with the U.S. Securities & Exchange Commission (SEC) that include Financial Statements (the Annual Statement must be audited). Those reports may be accessed by entering "20/20 GeneSystems, Inc." at https://www.sec.gov/edgar/searchedgar/companysearch.html or by contacting our Chief Financial Officer Richard Brand at RBrand@2020gene.com
Regulation A Offering and Forward Looking Statements
20/20 GeneSystems is offering securities through the use of an Offering Statement that has been qualified by the Securities and Exchange Commission under Tier II of Regulation A. A copy of the Final Offering Circular that forms a part of the Offering Statement may be obtained from: https://www.sec.gov/edgar/searchedgar/companysearch.html
A QUALIFIED OFFERING ONLY MEANS THAT THE COMPANY MAY MAKE SALES OF THE SECURITIES DESCRIBED BY THE OFFERING STATEMENT. IT DOES NOT MEAN THAT THE SEC HAS APPROVED, PASSED UPON THE MERITS OR PASSED UPON THE ACCURACY OR COMPLETENESS OF THE INFORMATION IN THE OFFERING STATEMENT.
THE OFFERING MATERIALS MAY CONTAIN FORWARD-LOOKING STATEMENTS AND INFORMATION RELATING TO, AMONG OTHER THINGS, THE COMPANY, ITS BUSINESS PLAN AND STRATEGY, AND ITS INDUSTRY. THESE FORWARD-LOOKING STATEMENTS ARE BASED ON THE BELIEFS OF, ASSUMPTIONS MADE BY, AND INFORMATION CURRENTLY AVAILABLE TO THE COMPANY’S MANAGEMENT. WHEN USED IN THE OFFERING MATERIALS, THE WORDS “ESTIMATE,” “PROJECT,” “BELIEVE,” “ANTICIPATE,” “INTEND,” “EXPECT” AND SIMILAR EXPRESSIONS ARE INTENDED TO IDENTIFY FORWARD-LOOKING STATEMENTS, WHICH CONSTITUTE FORWARD-LOOKING STATEMENTS. THESE STATEMENTS REFLECT MANAGEMENT’S CURRENT VIEWS WITH RESPECT TO FUTURE EVENTS AND ARE SUBJECT TO RISKS AND UNCERTAINTIES THAT COULD CAUSE THE COMPANY’S ACTUAL RESULTS TO DIFFER MATERIALLY FROM THOSE CONTAINED IN THE FORWARD-LOOKING STATEMENTS. INVESTORS ARE CAUTIONED NOT TO PLACE UNDUE RELIANCE ON THESE FORWARD-LOOKING STATEMENTS, WHICH SPEAK ONLY AS OF THE DATE ON WHICH THEY ARE MADE. THE COMPANY DOES NOT UNDERTAKE ANY OBLIGATION TO REVISE OR UPDATE THESE FORWARD-LOOKING STATEMENTS TO REFLECT EVENTS OR CIRCUMSTANCES AFTER SUCH DATE OR TO REFLECT THE OCCURRENCE OF UNANTICIPATED EVENTS.