BioSyent Releases 2009 Financial Results
April 26 2010 - 4:05PM
Marketwired
BioSyent Inc. ("BioSyent")(TSX VENTURE: RX) today released a
summary of its 2009 financial results.
Total Sales were 6.5% lower at $1,029,903 in 2009 compared to
$1,101,991 in 2008.
Gross Margins increased from 58.8% in 2008, to 64.4% in 2009
primarily because of sales mix in favour of higher margin
products.
The Company incurred a loss of ($260,556) in 2009 compared to a
loss of ($287,892) in 2008. This loss is predominantly due to a
decrease in sales of Canadian Protect-It® and investments in
pharmaceutical operations.
Full details of 2009 results including December 31, 2009
Financial Statements and Management's Discussion & Analysis
will be published in the company's 2009 Annual Report and will be
posted on sedar.com on April 26, 2009.
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.
The TSX Venture Exchange assumes no responsibility for the
accuracy of this release and neither approves nor disapproves of
the same.
Contacts: BioSyent Inc. Rene C. Goehrum President and CEO (905)
206-0013 (905) 206-1413 (FAX) www.biosyent.com
Biosyent (TSXV:RX)
Historical Stock Chart
From May 2024 to Jun 2024
Biosyent (TSXV:RX)
Historical Stock Chart
From Jun 2023 to Jun 2024