For the second quarter ended June 30, 2009, the Company reported a loss of $701,000 or ($0.03) per share, compared to a loss of $419,000 or ($0.02) per share for the corresponding period in 2008. The second quarter loss included the above-mentioned consulting costs and foreign exchange loss, totaling $248,000, and an unrealized loss on the Company's bond portfolio ($91,000). For the six months ended June 30, 2009, the Company reported a loss of $1,105,000 or ($0.05) per share, compared to a loss of $867,000 or ($0.04) per share for the corresponding period in 2008.
Cash and short term investments as at June 30, 2009 totaled $3,436,000, compared to $4,297,000 as at December 31, 2008. Management expects that the Company will maintain a cash and short term investment balance of approximately $3,000,000 for the rest of 2009.
About Spectral Diagnostics
Spectral is a leader in the battle against sepsis. Spectral's lead product is its Endotoxin Activity Assay (EAA(TM)), the only FDA cleared assay for the measurement of endotoxin. With the growing awareness for the role of endotoxemia in sepsis and the increasing number of therapies being developed to treat endotoxemia, Spectral is well-positioned to promote the adoption of the EAA(TM), which can be used to identify patients, enable therapeutics and monitor treatment. Spectral is listed on TSX under the symbol SDI.
Information in this news release that is not current or historical factual information may constitute forward-looking informa
|SOURCE Spectral Diagnostics Inc.|
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