Biocontrol Says No Material Reason For Stock Drop.PITTSBURGH--(BUSINESS WIRE)--June 24, 1999-- Biocontrol bi·o·con·trol n. See biological control. biocontrol See biological control. Technology, Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB:BICO BICO Bicolor ) announced today in response to the recent drop in its stock value that nothing material to the Company has occurred to cause such a decline. On the contrary, the Company is in a solid financial position and the Diasensor, Petrol Rem and IDT IDT Integrated Device Technology, Inc. (Santa Clara, CA, USA) IDT I Don't Think IDT Identity Theft IDT Interrupt Descriptor Table IDT Integrated DNA Technologies IDT Inactive Duty Training IDT Instructional Design & Technology subsidiaries are all making excellent progress with their respective projects and have added directors highly respected in their fields. Also, Biocontrol has had an 18% increase in its staff with 6% being rehires of staff laid off at the end of 1998 or beginning of 1999. On May 24, 1999, the first module of Biocontrol's modular premarket approval application (PMA PMA (papillary-marginal-attached), n a system of epidemiologic scoring of periodontal disease devised by Schour and Massler in which the symbols denote the areas involved in gingival inflammation. PMA Progressive muscular atrophy ) submission for the Diasensor 2000 was submitted to the FDA FDA abbr. Food and Drug Administration FDA, n.pr See Food and Drug Administration. FDA, n.pr the abbreviation for the Food and Drug Administration. , which has 90 days in which to respond. Biocontrol continues to move forward on the second module and the enhancements to the operating software and hardware necessary for the telemedicine program utilizing the Diasensor 2000. The Diasensor 2000 is a home-use instrument used by patients with diabetes to measure their blood glucose without the need to prick the finger to obtain a drop of blood. Patients using currently marketed invasive devices require that patients prick their fingers to obtain a sample of blood to test their glucose. The Diasensor 2000 illuminates a small area on the patient's arm with infrared light, which is then scattered back out through the skin and collected by the instrument. This information is interpreted by software in the instrument as a blood glucose concentration. Biocontrol Technology has its corporate offices in Pittsburgh, PA and is involved in the development and manufacture of biomedical bi·o·med·i·cal adj. 1. Of or relating to biomedicine. 2. Of, relating to, or involving biological, medical, and physical sciences. devices and environmental products. Subsidiary Diasensor.com Inc., also located in Pittsburgh, markets the Diasensor. Diasensor.com owns the patent, marketing and distribution rights to the sensor while Biocontrol has the exclusive rights to the research and development and manufacturing of the sensor. WEB SITE: www.bico.com INVESTOR RELATIONS NEWSLINE NUMBER: 800/357-6204 This press release contains forward looking statements and shareholders and potential investors are cautioned that such statements are predictions and actual events or results may vary significantly. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion