dar payments received
from Gen-Probe which had been amortized over a 42-month period from the
signing of the original license agreement. Royalty revenues from Gen-Probe
were $46,591 for the second quarter of 2008, compared with $27,873 for the
second quarter of 2007. Sales of DiagnoCure's non-invasive bladder cancer
test, ImmunoCyt(TM) / uCyt+(TM), were $86,906 for the second quarter of
2008 versus $127,059 for the same period a year ago. Income from research
and development contracts, predominantly with Gen-Probe, decreased in 2008
by $72,918 as specific PCA3-related contracted R&D projects are completed.
Also in this quarter, DiagnoCure sold clinical samples to Gen-Probe, in
support of their prostate cancer testing R&D, for an amount of $47,644
compared with $25,035 in the second quarter of 2007.
Interest income increased $127,961, to $334,968 for the second quarter
of 2008 compared with $207,007 for the second quarter of 2007. The increase
is attributable to the interest generated on the net proceeds of
$23,353,098 received from the April 2007 financing.
Cost of sales increased $22,226 from $64,524 for the second quarter of
2007 to $86,750 for the second quarter of 2008. This increase is related to
higher samples sales. Research and development expenses, net of investment
tax credits, increased by $812,090, from $663,222 for the second quarter of
2007 to $1,475,312 for the same quarter in 2008. The increase in research
and development expenses is attributable to the development and transfer,
to our U.S. clinical laboratory, of the GCC colorectal cancer staging test.
DiagnoCure intends to launch the Previstage(TM) GCC Colorectal Cancer
Staging Test this summer.
Based on the above, for the second quarter of 2008, DiagnoCure recorded
a net loss, before stock-based compensation, of $3,052,970 compared with
$762,817 for the same period of 2007. The net loss including stock based
compensation was $3,372,374 or $0.08 per share for the second quarterPage: 1 2 3 4 5 6 7 8 Related medicine news :1
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