Significant development towards the commercialization of Previstage(TM) GCC
and royalties from the sales of the PCA3 test in progress
QUEBEC CITY, June 13 /PRNewswire-FirstCall/ - DiagnoCure Inc. (TSX: CUR), a life sciences company commercializing high-value cancer diagnostic tests and delivering lab services, announced a net loss of $3,372,374 or $0.08 per share for the second quarter ending April 30, 2008. These results are substantially in line with Management expectations. They reflect the significant progress towards the commercialization of DiagnoCure's new Previstage(TM) GCC Colorectal Cancer Staging Test, and royalties of the sales of the PCA3 test progressing over last year second quarter. At the end of the quarter, cash, short-term investments and long-term investments stood at $26,691,514.
DiagnoCure also announces that, effective June 13, 2008, Mr. Alain Rheaume will succeed to Mr. Paul Gobeil as Chairman of the Board of directors of the Company. Mr. Rheaume is Founder and Managing Partner of Trio Capital Inc. He cumulates over 30 years of experience in management in both the public and private sectors. He has been Director of DiagnoCure's Board and a member of the Audit Committee since 2005.
Mr. Gobeil asked to be relieved of his duties as Chairman of the Board.
The Company will continue to enjoy his broad experience as he pursues his
10-year tenure as a DiagnoCure Board member. Under Mr. Gobeil's remarkable
Chairmanship since 2005, the Board has implemented a rigorous corporate
governance program, ensured the hiring and transition of a new Chief
Executive Officer, and completed an extensive review of the strategic
foundation of the Company which translated into a new financing of $25
million, the acquisition of five promising markers and products, and the
upcoming launch of a new test for colorectal cancer through the Company's
new clinical laboratory in the United States.
Highlights of the Quarter
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