AMDL Reports Fiscal 2003 Financial Results
March 30 2004 - 7:20PM
PR Newswire (US)
AMDL Reports Fiscal 2003 Financial Results TUSTIN, Calif., March 30
/PRNewswire-FirstCall/ -- AMDL, Inc. , developer and marketer of
tests for the early detection of cancer and other serious diseases,
today reported its fiscal 2003 financial results. AMDL's product
revenues for the year ended December 31, 2003 totaled $360,000, a
101.2 percent increase compared to product revenues of $179,000 for
the year ended December 31, 2002. Net loss for fiscal 2003 was $2.9
million or ($0.23) per share compared to a net loss of $3.6
million, or ($0.42) per share, for the year ended December 31,
2002. "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. "The Company is also seeking to license its
Combination Immune Therapy technology through a strategic
relationship with a large pharmaceutical company." 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
for9 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 itsmarkets, 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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