DiagnoCure Inc. Announces Earnings Results for the Fourth Quarter and Full Year Ended October 31, 2015; Reports Impairment of Intangible Asset for the Fourth Quarter Ended October 31, 2015
January 21, 2016 at 05:05 pm EST
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DiagnoCure Inc. announced earnings results for the fourth quarter and full year ended October 31, 2015. For the quarter, the corporation announced a net loss of $2,425,901 or $0.05 per share compared to $461,710 or $0.01 per share for the same period in 2014. Total revenues were $109,831 compared with $122,254 for the same period of 2014. This decrease of $12,423 or 10% is mostly attributable to PCA3 royalties.
For the full year, the company's net loss was $3,600,168 or $0.08 per share compared to $2,032,151 or $0.05 per share for the same period in 2014. Total revenues were $515,372 compared with $553,140 for 2014. Without taking into account the effect of the exchange rate variation, total revenues decreased by 22%, to $401,000 for fiscal 2015 compared with $491,000 for 2014. This decrease is mainly attributable to a decrease in PCA3 royalty revenues.
The company reported impairment of intangible asset for the fourth quarter ended October 31, 2015. For the quarter, the company reported impairment of intangible asset was $2,226,672.
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).
DiagnoCure Inc. Announces Earnings Results for the Fourth Quarter and Full Year Ended October 31, 2015; Reports Impairment of Intangible Asset for the Fourth Quarter Ended October 31, 2015