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/

Copyright

Amdl (AMEX:ADL)
Historical Stock Chart
From May 2024 to Jun 2024 Click Here for more Amdl Charts.
Amdl (AMEX:ADL)
Historical Stock Chart
From Jun 2023 to Jun 2024 Click Here for more Amdl Charts.