CytoCore Reports 3rd Quarter Loss While Ramping Up Clinical Trials.New Biomarker Discovery Biomarker discovery is the process by which biomarkers are discovered. It is a medical term. Many commonly used blood tests in medicine are biomarkers. The way that these tests have been found can be seen as biomarker discovery. Supports Early Reproductive Cancer Detection Testing CHICAGO -- Owing to owing to prep. Because of; on account of: I couldn't attend, owing to illness. owing to prep → debido a, por causa de a ramp-up of clinical trial operations, manufacturing processes for the E2 Collector and expanded development of a groundbreaking screening system for the early detection of uterine cancer uterine cancer Malignant tumour of the uterus. Cancers affecting the lining of the uterus (endometrium) are the most common cancers of the female reproductive tract. , CytoCore, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :CYCR) reported a loss for the 3rd quarter ended September 30, 2006. The late-stage bioscientific research company recorded a 3rd-quarter loss of $1.325 million, or $.00 per share, compared with a loss of $308,000, or $.00 per share, during the same quarter ended September 30, 2005. For the nine-month period ending September 30, 2006, the company reported an operating loss operating loss The excess of operating expenses over revenue. As with operating income, operating losses exclude revenues and expenses from operations that are not considered a regular part of the business. Also called deficit. Compare operating income. of $3.341 million compared with a loss of $1.082 million for the period ended September 30, 2005. After interest, preferred dividends preferred dividend n. a payment of a corporation's profits to holders of preferred shares of stock. (See: preferred stock) , and one-time non-reoccurring non-cash charges, the company incurred a loss of $5.677 million, or $.03 per share, for the nine-month period ended September 30, 2006. "We are excited about CytoCore's future as we come closer to product sales and the start of clinical operations which should confirm the potential of our cancer screening products along with the integrated use of the Automated Image Proteomic System (AIPS AIPS Astronomical Image Processing System AIPS Astronomical Information Processing System AIPS Association Internationale de la Presse Sportive (French: International Sports Press Association) AIPS American Institute for Public Safety ), a computer guided image recognition microscope system," said Chief Financial Officer Robert McCullough Jr. "We expect to have significant announcements over the near term as we finish out the year, move deeper into our trials, and approach e2Collector manufacturing options." For further information, visit www.CytoCoreInc.com About CytoCore Inc. CytoCore develops cost-effective cancer screening systems, which can be utilized in a laboratory or at the point-of-care, to assist in the early detection of cervical, endometrial endometrial /en·do·me·tri·al/ (en?do-me´tre-il) pertaining to the endometrium. endometrial, n relating to the end-ometrium or cavity of the uterus. , and other cancers. The InPath[TM] System is being developed to provide medical practitioners with highly accurate, low-cost, cervical and uterine cancer screening systems that can be seamlessly integrated into existing medical models. More information is available at: www.CytoCoreInc.com Dr. George Gorodeski has a significant financial interest in this research consisting of equity and salary as consultant and Director of the Scientific Advisory Board of CytoCore. Dr. Gorodeski's invention licensed to CytoCore could generate royalty income for Dr. Gorodeski, for University Hospitals of Cleveland University Hospitals is a major not-for-profit medical center in Cleveland, Ohio, United States. With 150 locations throughout northeast Ohio, it encompasses a network of hospitals, outpatient centers and primary care physicians. , and for CASE University. Certain statements in this release are forward-looking. These statements are based on CytoCore's current expectations and involve many risks and uncertainties, such as the company's inability to obtain sufficient financing, the possibility that clinical trials will not substantiate CytoCore's expectations with respect to the InPath[TM] System, and other factors set forth in reports and documents filed by CytoCore with the Securities and Exchange Commission. Actual results may differ materially from CytoCore's current expectation depending upon a number of factors affecting the Company's business. These factors include, among others, risks and uncertainties detailed in the Company's periodic public filings with the Securities and Exchange Commission, including but not limited to the Company's Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the year ended December 31, 2005. Except as expressly required by law, CytoCore undertakes no obligation to publicly update or revise any forward-looking statements contained herein. |
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