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DiagnoCure announces fourth quarter 2008 and year-end results
Date:12/17/2008

new study discussed the prognostic value of PCA3, an additional important potential indication for the test that is presently used to predict the outcome of a prostate biopsy.

Over the past few months, the Company was for the first time invited to present at two important conferences, the JMP Securities Healthcare Focus Conference in October and the Piper Jaffray Health Care Conference in early December. These conferences represent opportunities to increase the notoriety of DiagnoCure in the U.S. financial community.

In November, considering the current challenging economic environment, DiagnoCure reviewed the priority and scope of certain development and commercialization projects in order to rationalize expenses and maintain a strong cash base. As a result, the Company reduced its staff in R&D and administration support. Management is confident that these actions will allow for the continuous growth of its business while maintaining a healthy cash position during these unstable times on the capital markets.

Results for the fiscal year ended October 31, 2008

Total revenues for 2008 were $1,995,910 compared with $3,467,425 for the same period of 2007. In 2008, DiagnoCure had no revenue recognition of the continued calendar payments and research agreement from Gen-Probe compared with $1,711,940 from the prior year. Royalty revenues from Gen-Probe were $262,387 for 2008, compared with $127,843 for the corresponding period of 2007. This increase is attributable to the sales of PCA3 in Europe by Gen-Probe. Sales of DiagnoCure's non-invasive bladder cancer test, ImmunoCyt(TM) / uCyt+(TM), were $343,750 for 2008 versus $352,351 for the same period a year ago. Income from research and development contracts, predominantly with Gen-Probe, has decreased in 2008 by $166,604 as specific PCA3-related contracted R&D projects got completed. Also in this period, DiagnoCure sold clinical samples to Gen-Probe, in s
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SOURCE DIAGNOCURE INC.
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