AMDL Reports 2006 First Quarter Financial Results
May 16 2006 - 6:08PM
PR Newswire (US)
TUSTIN, Calif., May 16 /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, 2006. AMDL's revenues from its
DR-70(R) test kit decreased to $15,375 compared to $22,875 for the
three months ended March 31, 2005. All sales of the proprietary
cancer detection test were to Korea and Taiwan. Net loss for the
three months ended March 31, 2006 was $911,913 or ($0.03) per share
compared to a net loss of $554,978, or ($0.02) per share, for the
three months ended March 31, 2005. AMDL announced that gross profit
decreased to $9,603 for the period ended March 31, 2006 compared to
gross profit of $18,047 in the comparable period in 2005. Total
assets decreased to $2,912,999 at March 31, 2006 compared to
$3,181,841 at December 31, 2005. "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. We are aware that FDA approval
would assist in market awareness and acceptance in the
international markets that we will seek," Gary L. Dreher, CEO of
AMDL. 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/
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