DiagnoCure, Inc. Reports Earnings Results for the Fourth Quarter 2013 and Fiscal Year Ended October 31, 2013
January 16, 2014 at 04:00 pm
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DiagnoCure Inc. reported earnings results for the fourth quarter 2013 and fiscal year ended October 31, 2013. The Corporation announced a net loss of $1,334,099 or $0.03 basic and diluted loss per share for the fourth quarter ended October 31, 2013, compared to $1,978,355 or $0.05 basic and diluted loss per share for the same period in 2012. Total revenues for the fourth quarter of 2013 were $149,465 compared to $142,995 for the same period of 2012. This increase of $6,470 is attributable to royalty revenues from Hologic Gen-Probe.
The Corporation announced a net loss of $3,566,942 or $0.08 basic and diluted loss per share for fiscal year 2013 compared to $3,679,324 or $0.09 basic and diluted loss per share for the same period in 2012. Total revenues for fiscal year 2013 were $671,228 compared with $2,472,038 for 2012. This decrease of $1,800,810 is attributable to the termination, on January 11, 2013 of the development and license agreements signed in June 2011 with Signal Genetics. That development agreement provided $1,223,485 of revenues in fiscal year 2012. The remaining decrease is attributable to the payment of $626,401 made by Gen-Probe in relation to the FDA milestone reached for PROGENSA(R) PCA3 in fiscal year 2012.
9342-8530 Quebec Inc is a Canada-based biotechnology company. The Company specializes in the development and commercialization of products relating to the diagnosis of cancer. It intends to focus its activities on business development efforts by out-licensing, selling, or partnering with third parties with regards to its Previstage GCC and its new multimarker prostate cancer test (PCP). The Company's colorectal cancer staging test, Previstage GCC, uses the Guanylyl Cyclase C (GCC or GUCY2C) marker to stratify the risk of colon cancer recurrence by determining the stage of the disease. Previstage GCC Colorectal Cancer Staging test is a molecular test for the staging of colorectal cancer patients. The PROGENSA PCA3 assay is a molecular urine test that can be used as a predictor of biopsy outcome in men with a serum prostate specific antigen (PSA) level over 2.5 nanograms per milliliter (ng/ml).