RX Biosyent Inc

BioSyent Inc. ("BioSyent")(TSX VENTURE:RX) today released a summary of its
financial results for the second quarter 2008. For the six months ending June
30, 2008, sales increased by 17% from $447,946 in first half of 2007 to $524,573
in first half of 2008. Both Pharmaceutical and Bio-friendly Insecticide
divisions experienced growth. The company incurred a loss of ($167,845) in the
first half 2008 compared to a loss of ($177,374) in first half of 2007. This
loss is predominantly due to the higher pharmaceutical operating expenses for
the establishment of the hospital division and the launch of Ciprofloxacin
Injection, which was first shipped in May 2008.


Total working capital has decreased by approximately 9% from $1,097,491 in
December 2007 to $918,615 in June 2008. Cash and cash equivalents account for
74% of working capital as of June 30, 2008.


Full details of 2008 quarter two results and Financial Statements and
Management's Discussion & Analysis will be posted on sedar.com on August 29,
2008.


BioSyent Inc. continues to concentrate on its pharmaceutical strategy to source
products that have been successfully developed and proven to be safe and
effective; manage these products through the regulatory process and product
registration (approval); and once approved, market these products in Canada.
These pharmaceuticals will compete in both the branded and generic market
segments and will not require further product development investment other than
regulatory costs.


BioSyent Inc. is a publicly traded specialty pharmaceutical company whose wholly
owned subsidiary, BioSyent Pharma Inc., sources, acquires or in-licences
pharmaceutical products and markets these products in Canada. Wholly owned
BioSyent subsidiary Hedley Technologies Ltd. operates the company's legacy
business marketing bio and health friendly non-chemical insecticides. BioSyent
common shares are listed for trading on the TSX Venture Exchange (TSXV) under
the symbol RX.


This press release may contain information or statements that are
forward-looking. The contents herein represent our judgment, as at the release
date, and are subject to risks and uncertainties that may cause actual results
or outcomes to be materially different from the forward-looking information or
statements. Potential risks may include, but are not limited to, those
associated with clinical trials, product development, future revenue,
operations, profitability and obtaining regulatory approvals.

Biosyent (TSXV:RX)
Historical Stock Chart
From Jun 2024 to Jul 2024

Biosyent (TSXV:RX)
Historical Stock Chart
From Jul 2023 to Jul 2024