First Trade Date for Cytyc Corp.
| Company Name | First Trade Date (yyyy-mm-dd) |
| Cytyc Corp. | 1996-03-08 |
| Company Name | Symbol |
| Cytyc Corp. | CYTC |
| History and Business of Company (this information may include date of incorporation) | |
|
In recent decades, widespread and regular use of the Pap smear as a screening test in the U.S. has contributed to a greater than 70% decrease in mortality from cervical cancer. In spite of the success of the Pap smear in reducing deaths due to cervical cancer, the test has significant limitations which can produce inaccurate test results including false negative diagnoses. Cytyc Corp. (CYTC) designs, develops, manufactures and markets a sample preparation system for medical diagnostic applications, including use as an alternative to the Pap smear. CYTC's ThinPrep System allows for the automated preparation of cervical cell specimens on microscope slides for use in cervical cancer screening, as well as for the automated preparation of other cell specimens on microscope slides for use in non- gynecological testing applications. CYTC's ThinPrep System consists of the ThinPrep Processor, and related disposable reagents, filters and other supplies. Since 1991, CYTC has marketed the ThinPrep System for use in non-gynecological testing applications. On May 20, 1996, CYTC received premarket approval from the U.S. FDA to market the ThinPrep System for cervical cancer screening as a replacement for the conventional Pap smear method. On Nov. 6, 1996, the FDA cleared expanded product labeling to include the claim that the ThinPrep System is significantly more effective in detecting low grade squamous intraepithelial lesions and more severe lesions than the Pap smear method in a variety of patient populations. CYTC commenced the full-scale commercial launch of the ThinPrep System for cervical cancer screening in the U.S. in 1997 and in selected international markets in 1998. In May 2000, the FDA approved the ThinPrep 3000 Processor, CYTC's next-generation processor for automated sample preparation. In December 2000, CYTC began clinical trials of the ThinPrep Imaging System to aid in cervical cancer screening and as of September 2001, the U.S. Army adopted ThinPrep Pap Test as the standard of care at its cervical cancer screening centers worldwide. In terms of current research, CYTC is evaluating additional diagnostic applications of its ThinPrep technology in testing for the presence of other types of cancers and sexually transmitted diseases. Also, CYTC continues to expand its direct marketing and sales organization in the U.S., supported by customer and technical service representatives. The marketing and sales organization focuses on the clinical and economic benefits of the ThinPrep System for healthcare providers, third-party payors and clinical laboratories. INCORPORATED in Delaware Feb. 9, 1987, as Generitech Corp.; present title adopted in 1988. OFFICE- 85 Swanson Rd., Boxborough, MA 01719 (Tel.: 978-263-8000). Fax - 978-635-1033. WEBSITE- http://www.cytyc.com. | |
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