Aprogenex reports 1995 third-quarter results.HOUSTON--(BUSINESS WIRE)--Nov. 15, 1995--Aprogenex Inc. (ASE (Adaptive Server Enterprise) A relational DBMS from Sybase that runs on Windows NT/2000, Linux and a variety of Unix platforms. ASE is a comprehensive and robust data management product with a long history dating back to the late 1980s. :APG APG Assists Per Game (basketball) APG Assists Per Game (hockey statistic) APG Aberdeen Proving Ground APG Automated Password Generator APG Asia Pacific Group on Money Laundering ), a developer of next-generation diagnostic tests, based upon a patented core technology that greatly improves the ability to analyze intact cells at a molecular level, Wednesday announced the results of operations for the third fiscal quarter and nine months ended Sept. 30, 1995. The company reported a loss of $1,227,889, or 24 cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. for the third fiscal quarter ended Sept. 30, 1995. This compares with a loss of $2,770,069, or 57 cents per share for the like year- ago quarter. Last year's third-quarter results were negatively affected by approximately $1.2 million that was expensed as a result of the acquisition of certain patent rights. For the nine months ended Sept. 30, 1995, Aprogenex lost $4,113,118, or 82 cents per share. This compares with a loss of $7,667,084, or $1.61 per share for the nine months ended Sept. 30, 1994, which included approximately $2.7 million expensed in 1994 as the result of the acquisition of certain technology and patent rights. The company also announced that Terry Ward has been elected as chairman of the board of Aprogenex, effective immediately. Ward, an experienced venture capital investor, has served as chief financial officer of W.S. Farish & Co. since 1979, and has been a director of Aprogenex since March 1994. W.S. Farish & Co. is the beneficial owner Beneficial Owner A person who enjoys the benefits of ownership even though title is in another name. Notes: For example, when shares of a mutual fund are held by a custodian bank or when securities are held by a broker in street name, the true owner is the beneficial of approximately 450,000 shares of Aprogenex common stock. Aprogenex develops, manufactures and markets DNA DNA: see nucleic acid. DNA or deoxyribonucleic acid One of two types of nucleic acid (the other is RNA); a complex organic compound found in all living cells and many viruses. It is the chemical substance of genes. probe-based test systems based on its proprietary RIGHTechnology which is broadly applicable to extensive markets in genetics genetics, scientific study of the mechanism of heredity. While Gregor Mendel first presented his findings on the statistical laws governing the transmission of certain traits from generation to generation in 1856, it was not until the discovery and detailed study of , oncology oncology /on·col·o·gy/ (ong-kol´ah-je) the sum of knowledge regarding tumors; the study of tumors. on·col·o·gy n. , virology virology, study of viruses and their role in disease. Many viruses, such as animal RNA viruses and viruses that infect bacteria, or bacteriophages, have become useful laboratory tools in genetic studies and in work on the cellular metabolic control of gene expression and microbiology microbiology: see biology. microbiology Scientific study of microorganisms, a diverse group of simple life-forms including protozoans, algae, molds, bacteria, and viruses. . The company is currently developing GenSite, a prenatal prenatal /pre·na·tal/ (-na´tal) preceding birth. pre·na·tal adj. Preceding birth. Also called antenatal. prenatal preceding birth. genetic test using maternal blood, and two HIV HIV (Human Immunodeficiency Virus), either of two closely related retroviruses that invade T-helper lymphocytes and are responsible for AIDS. There are two types of HIV: HIV-1 and HIV-2. HIV-1 is responsible for the vast majority of AIDS in the United States. ``viral load'' tests, the Virafy and ViraFlow assays. -0-
APROGENEX INC.
(A Development-Stage Co.)
Results of Operations
(Unaudited)
For the Quarter Ended
Sept. 30,
1995 1994
Revenues $ 17,650 $ -- Research and development expenses (684,194) (2,110,170) General and administrative expenses (583,681) (676,811) Other, net 22,336 16,912 Net loss $(1,227,889) $(2,770,069) Net loss per share (24 cents) (57 cents) Weighted average shares outstanding 5,136,345 4,860,644
For the Nine Months Ended
Sept. 30,
1995 1994
Revenues $ 25,720 $ -- Research and development expenses (2,497,199) (5,706,266) General and administrative expenses (1,672,309) (2,091,356) Other, net 30,670 130,538 Net loss $(4,113,118) $(7,667,084) Net loss per share (82 cents) $ (1.61) Weighted average shares outstanding 5,041,880 4,752,720
Balance Sheet Highlights
(Unaudited)
As of Sept. 30,
1995
Cash and marketable securities $ 2,245,209 Current assets $ 2,342,328 Current liabilities $ 604,332 Stockholders' equity $ 2,592,603 Shares of common stock issued and outstanding 5,153,024 Shares of Series A convertible preferred stock issued and outstanding 459,000 Shares of common stock issued and outstanding, assuming conversion of preferred stock at initial conversion rate 5,987,569 Shares of common stock issued and outstanding, assuming conversion of preferred stock at maximum conversion rate 7,448,024 CONTACT: Aprogenex Inc., Houston J. Donald Payne Donald Payne could refer to either:
or Equity Communications Ira Weingarten, 805/897-1880 |
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