AMDL Reports 2005 Third Quarter Financial Results
November 14 2005 - 7:48PM
PR Newswire (US)
TUSTIN, Calif., Nov. 14 /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 and nine months ended September 30, 2005. AMDL's revenues
from its DR-70(R) test kit decreased to $9,450 compared to $21,164
for the three months ended September 30, 2004, a decrease of 55.3%.
OEM revenues decreased to $800 compared to $4,800 for the prior
year period, a decrease of 83.3%. Total product revenues for the
three months ended September 30, 2005 were $10,250, a 60.5%
decrease compared to product revenues of $25,964 for the three
months ended September 30, 2004. Net loss for the three months
ended September 30, 2005 was $666,826 or ($0.03) per share compared
to a net loss of $639,231 or ($0.03) per share, for the three
months ended September 30, 2004. For the nine months ended
September 30, 2005, revenues from DR-70(R) test kit decreased to
$46,475 compared to $50,517 for the nine months ended September 30,
2004, a decrease of 8.0%. OEM revenues decreased to $3,200 compared
to $123,465 for the prior year period, a decrease of 97.4%. 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 nine months
ended September 30, 2005 were $49,675, a 71.4% decrease compared to
product revenues of $173,982 for the nine months ended September
30, 2004. Net loss for the nine months ended September 30, 2005 was
$1,828,380 or ($0.08) per share compared to a net loss of
$1,962,971, or ($0.09) per share, for the nine months ended
September 30, 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. "We are currently gathering data
requested by the FDA following our last review. Under FDA
guidelines, the Company is not permitted to market and promote
DR-70(R) while the test is undergoing an FDA submission." 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.amdl.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. Contact: AMDL, Inc. Gary L. Dreher President & CEO
(714) 505-4460 DATASOURCE: AMDL, Inc. CONTACT: Gary L. Dreher
President & CEO of AMDL, Inc., +1-714-505-4460 Web site:
http://www.amdl.com/
Copyright
Amdl (AMEX:ADL)
Historical Stock Chart
From May 2024 to Jun 2024
Amdl (AMEX:ADL)
Historical Stock Chart
From Jun 2023 to Jun 2024