20/20 GeneSystems

20/20 GeneSystems

Growth Stage

Diagnostic Testing for COVID-19 & Cancer

Overview

Raised this Round: Raised: $232,704

Total Commitments ($USD)

Platform

StartEngine

Start Date

08/15/2022

Close Date

12/21/2022

Min. Goal
$9,995
Max. Goal
$4,999,995
Min. Investment

$500

Security Type

Convertible Note

Series

Series A

SEC Filing Type

RegCF    Open SEC Filing

Valuation Cap

$58,400,000

Discount

10%

Year Founded

2000

Industry

Healthcare & Pharmaceuticals

Tech Sector

HealthTech

Distribution Model

B2B/B2C

Margin

Medium

Capital Intensity

High

Location

Rockville, Maryland

Business Type

Growth

20/20 GeneSystems, with a valuation of $58.4 million, is raising funds on StartEngine. It is a diagnostics company with a successful track record in cancer detection with its AI-powered multi-cancer blood test, OneTest. The company has also launched CoronaCheck, its FDA-authorized antibody lab test for COVID-19 antibodies. The business reported revenues of $9 million in 2021, a 300% increase over 2020 revenues. Jonathan Cohen founded 20/20 GeneSystems in 2000. The current crowdfunding campaign has a minimum target of $9,995.40 and a maximum target of $4,999,995. The campaign proceeds will be used to expand the portfolio of tests and grow revenues.

Summary Profit and Loss Statement

Most Recent Year Prior Year

Revenue

$9,622,332

$2,330,528

COGS

$4,927,374

$1,453,354

Tax

$0

$0

 

 

Net Income

$2,071,777

$-2,021,826

Summary Balance Sheet

Most Recent Year Prior Year

Cash

$3,354,469

$3,468,192

Accounts Receivable

$4,215,465

$205,071

Total Assets

$10,272,281

$4,677,734

Short-Term Debt

$0

$103,860

Long-Term Debt

$0

$40,247

Total Liabilities

$0

$144,107

Financials as of: 08/15/2022
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Raise History

Offering Name Close Date Platform Valuation/Cap Total Raised Security Type Status Reg Type
20/20 GeneSystems 09/03/2024 Wefunder $69,859,000 $158,269 Equity - Preferred Active RegCF
20/20 GeneSystems 12/20/2022 StartEngine $58,400,000 $232,704 Convertible Note Funded RegCF
20/20 GeneSystems 06/26/2021 StartEngine $38,500,000 $2,903,017 Equity - Preferred Funded RegA+
20/20 GeneSystems 10/31/2020 SeedInvest $38,500,000 $3,792,229 Equity - Preferred Funded RegA+
20/20 GeneSystems 12/13/2017 Microventures $23,000,000 $1,064,807 Equity - Preferred Funded RegCF
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Revenue History

Note: Revenue data points reflect the latest of either the most recent fiscal year's financials, or updated revenues directly from the founder, at each raise's close date.

Valuation History

Price per Share History

Note: Share prices shown in earlier rounds may not be indicative of any stock splits.

Employee History

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20/20 GeneSystems offers an affordable blood test that screens for multiple types of cancer. It also has access to the medical records of more than 200,000 patients with known cancer outcomes. Its testing technology and machine learning algorithms are innovative — but it’s not clear if there’s enough market demand for its product.

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20/20 GeneSystems on StartEngine 2022
Platform: StartEngine
Security Type: Convertible Note
Valuation: $58,400,000

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