AMDL Reports 2005 First Quarter Financial Results
May 12 2005 - 7:53PM
PR Newswire (US)
AMDL Reports 2005 First Quarter Financial Results TUSTIN, Calif.,
May 12 /PRNewswire-FirstCall/ -- AMDL, Inc. (AMEX:ADL), developer
and marketer of tests for the early detection of cancer and other
serious diseases, reported results for the three months ended March
31, 2005. AMDL's revenues from its DR-70(R) test kit increased to
$20,475 compared to $11,714 for the three months ended March 31,
2004, an increase of 74.8%. OEM revenues decreased to $2,400
compared to $112,789 for the prior year period, a decrease of
97.9%. The decrease reflects the general trend away from low-carb
diets to a more balanced diet, and thus reduced demand for the
Company's ketone strip product. Total product revenues for the
three months ended March 31, 2005 were $22,875, an 81.6% decrease
compared to product revenues of $124,503 for the three months ended
March 31, 2004. Net loss for the three months ended March 31, 2005
was $554,978 or ($0.02) per share compared to a net loss of
$564,256, or ($0.03) per share, for the three months ended March
31, 2004. "The Company's primary objective remains receiving U.S.
Food and Drug Administration clearance to market its DR-70(R) test
in the U.S. FDA approval would simultaneously increase market
awareness and acceptance in international markets," Gary L. Dreher,
CEO of AMDL, said. "Although, under FDA rules, the Company is not
permitted to market and promote DR-70(R) while the test is
undergoing the FDA submission and review process, we have begun to
increase DR-70(R) inventory and added equipment to provide
additional automation in the manufacturing process, pending receipt
of FDA approval." About AMDL AMDL, Inc. (AMEX:ADL), headquartered
in Tustin, California, is a theranostics company, involved in the
detection and treatment of the same disease, cancer. AMDL is the
inventor, developer and worldwide marketer through exclusive
distribution agreements of the DR-70(R) non-invasive cancer blood
test, which has demonstrated its ability to detect the presence in
humans of up to 13 cancers 84 percent of the time overall. In a
study published in the Journal of Immunoassay (1998, vol. 19, pp
63-72) DR-70(R) was shown to detect at least 13 different types of
cancer (lung, breast, stomach, liver, colon, rectal, ovarian,
esophageal, cervical, trophoblastic, thyroid, malignant lymphoma,
pancreatic) although the sample size for 9 of the cancers was not
statistically significant. Clinical trials of DR-70(R) have been
conducted in Canada, China, Germany, Taiwan and Turkey. DR-70(R)
can detect many kinds of cancer using a single tube of blood,
eliminating the need for costly, multiple tests. AMDL also owns a
combination immunogene therapy technology that is a possible
treatment for those already diagnosed with cancer and could
eventually be used as a vaccine to protect patients known to be at
risk because of a family history for certain types of cancer. The
combination therapy both builds the body's immune system and
destroys cancer cells. More information about AMDL and its
additional products can be obtained at
http://www.amdlcorporate.com/. Forward-Looking Statements
Statements in this press release may constitute forward-looking
statements and are subject to numerous risks and uncertainties,
including the failure to complete successfully the development of
new or enhanced products, the Company's future capital needs, the
lack of market demand for any new or enhanced products the Company
may develop, any actions by the Company's partners that may be
adverse to the Company, the success of competitive products, other
economic factors affecting the Company and its markets, and other
risks detailed from time to time in the Company's filings with the
Securities and Exchange Commission. The actual results may differ
materially from those contained in this press release. The Company
disclaims any obligation to update any statements in this press
release. DATASOURCE: AMDL, Inc. CONTACT: Gary L. Dreher, President
& CEO of AMDL, Inc., +1-714-505-4460 Web site:
http://www.amdlcorporate.com/
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