Question-and-Answer Session
Operator
(Operator Instructions). Our first question comes from JPMorgan's Tycho Peterson.
Tycho Peterson - JPMorgan
Yeah, good afternoon. Wondering, and congrats, Rob, on the promotion. I was wondering if you can comment a little bit on just some of the early marketing message around Cervista and talk a little bit about with the two sales teams, lab sales and physician office. What message is being delivered to the sales force? And then to the extent you're starting to see interest in 16/18 genotyping and competitively how you're positioned against some of the accounts that are coming up.
Rob Cascella
Sure. Howard why don't you take that
Howard Doran
Hey Tycho, thanks for the question. We're very pleased on how we finish the year certainly as it pertains to Cervista high-risk, and as you know, the sales teams have been integrated now for the better part of nine months since FDA approval and they're working very hard to go out and sign as many customers up as possible.
As we've discussed before, the revenue has a slightly trailing effect. It takes a couple of months to get the contracts signed, get the validations completed before you start actually reporting out live patient's results.
So, I think a real good way to think about our business is, what is the value of the accounts that we've gotten to that point at the close of this year? And if you think about the contracts we've closed, the people that we validated and those that are actually giving out live results today, we would anticipate that we have somewhere in the mid single-digit market share at this point. And if you think back to where we were prior to FDA approval, it was well under 1%. So, we're very pleased with that initial progress that we've made.
In regards to your question about 16 and 18, that's really a differentiator. As the labs industry itself continues to become more competitive, it really comes down to labs being able to go out and offer things that others don't and what we have really found is, one of the reasons that customers are very interested in bringing Cervista HR in, is so they can package 16/18 out to the customers and more further differentiate themselves from their competition as well.
So, we are very pleased that that is important to them. It's not real material when it comes to revenue, but it is a differentiator for them in the marketplace and it just makes the Cervista story that much more compelling.
- To read the full transcript on Seeking Alpha, click here »
