TORONTO, Aug. 13 /PRNewswire-FirstCall/ - Spectral Diagnostics Inc., (TSX: SDI), a company focused on bringing to market a diagnostic and a therapeutic targeting severe sepsis, today announced its financial results for the second quarter ended June 30, 2009.
"During the quarter, results of the EUPHAS trial in Italy were published in the Journal of American Medical Association (JAMA). The findings showed that the Toraymyxin(TM) cartridge significantly reduced mortality from sepsis in a prospective controlled trial, further supporting our planned U.S. registration trial for this product," said Dr. Paul Walker, President and CEO of Spectral. "The degree of reduction in mortality demonstrated by Toraymyxin(TM) in the EUPHAS trial is an unprecedented result for sepsis therapies. We believe that Toraymyxin(TM), when used together with our proprietary Endotoxin Activity Assay (EAA(TM)), has the potential to fulfill an unmet need for the approximately 125,000 patients that develop severe sepsis or septic shock in the U.S. each year. Our work towards obtaining an Investigational Device Exemption (IDE) from the U.S. FDA is on schedule and we should be in a position to initiate our registration trial for Toraymyxin(TM) following IDE approval."
For the second quarter ended June 30, 2009, Spectral reported revenues of $776,000, compared to $785,000 for the corresponding period in 2008. For the six months ended June 30, 2009, revenues were $1,618,000 compared to $1,449,000 for the same 2008 period. Sales of the EAA(TM) diagnostic increased, while royalty and reagent revenues from the Company's proprietary Troponin I products remained consistent with prior year levels.
Operating expenses for the second quarter ended June 30, 2009 were $1,186,000, compared to $978,000 for the corresponding period in 2008. For the six months ended June 30, 2009, operating expenses were $2,229,000 compared to $1,954,000 in the
|SOURCE Spectral Diagnostics Inc.|
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