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Spectral announces 2008 financial results
Date:3/12/2009

for Spectral's EAA(TM). Under the terms of the agreement, BB Medical will market and sell EAA(TM) throughout the Russian Federation starting in 2009. - Expanded collaboration agreement with Toray in May 2008, gaining access to Toray's distributors in new geographic territories including China, India, Russia and Canada for the sales and promotion of EAA(TM) in combination with Toraymyxin(TM) and as a stand-alone product. - Selected by a major international pharmaceutical company in April 2008 to use EAA(TM) to measure endotoxin levels during the enrolment of patients in a Phase III sub study, part of a multinational clinical trial evaluating the safety and effectiveness of a treatment for severe sepsis.

Financial Review

For the three-months ended December 31, 2008, Spectral reported sales of $861,000 compared to $675,000 for the corresponding period in 2007. For the year ended December 31, 2008, Spectral reported sales of $3,011,000 compared to $2,993,000 for the corresponding period in 2007. In 2008, sales of the Company's EAA(TM) product more than doubled to $660,000, compared to $296,000 in the prior year. The distribution agreements signed in Japan, Italy, and Germany late in 2007 were primarily accountable for this revenue growth. Spectral expects further sales improvement from these existing arrangements and new sales from distribution agreements in Russia and India in 2009. Reagent sales of $239,000 in 2008 increased by 22% over last year and are expected to remain consistent in the next fiscal year. Certain pre-established royalty plateaus were reached in 2007 by a licensee of the Company's Troponin I technology, with a resultant reduction in related revenues of $641,000. In future years, a portion of this impact should be offset as revenues from a new license agreement, signed in late 2007, are realized.'/>"/>

SOURCE Spectral Diagnostics Inc.
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Related biology technology :

1. Spectral signs exclusive license agreement to bring sepsis therapeutic to the U.S. market
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3. Spectral announces third quarter 2008 results
4. Spectral to bring anti-sepsis therapy to the U.S. market
5. Spectral announces exclusive distribution agreement in Russia for its EAA(TM) Sepsis Diagnostic Assay
6. Spectral announces continuing support for the combination of EAA(TM) and anti-endotoxin therapeutics
7. Spectral announces presentation of data on improving sepsis patient management with EAA(TM) and Toraymyxin(TM) combination
8. Spectral and Toray expand collaboration to include new geographic territories
9. Spectrals EAA(TM) to be used in Phase III study for a sepsis anti-endotoxin therapy
10. Spectral announces new findings on the effectiveness of EAA(TM)/Toraymyxin(TM) at the 28th International Symposium on Intensive Care and Emergency Medicine
11. Spectral announces 2007 financial results
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