The Company had approximately $26.9 million in cash, cash equivalents and short-term investments at June 30, 2008. Cash used in operations for the first six months of 2008 was $8.4 million.
HIV Tropism and Resistance Testing
Recent significant developments in Monogram's HIV business include:
-- Introduction in June of sensitivity enhancements to Trofile enabling the identification of X4 virus present at a level as low as 0.3% of the total viral population, a thirty-fold increase in sensitivity.
-- Presentation in June, at the Drug Resistance Workshop in Sitges, Spain, of data providing clinical validation of optimized patient selection with the enhanced assay format.
-- Establishment of coverage for Trofile by New York and California state Medicaid programs.
-- Announcement of the availability August 4 of the PhenoSense Integrase assay for assessing resistance to the integrase class of HIV drugs.
-- Extension of Trofile's availability outside of the U.S. to thirteen European countries, Canada, Brazil and Argentina.
"Selecting the right treatment regimens for HIV patients is critical, not only to assure that each individual drug is appropriate for the individual patient but also to make sure that the entire regimen is as robust as possible to protect the other drugs in the patient's regimen from unnecessary exposure to the development of resistance," said William Young, Monogram Chief Executive Officer. "The implementation of enhanced sensitivity in Trofile and the introduction of our resistance test for the integrase class of HIV drugs further extend Monogram's industry-leading portfolio of assays for guiding HIV therapy decisions."
HERmark(TM) Breast Cancer Assay
Recent significant developments for Monogram's HERmark Breast Cancer Assay include:
-- Presentation by
|SOURCE Monogram Biosciences, Inc.|
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