Printer Friendly

IGENE BIOTECHNOLOGY REPORTS ARRANGEMENT FOR TOLL MANUFACTURING AND THIRD QUARTER RESULTS

   IGENE BIOTECHNOLOGY REPORTS ARRANGEMENT FOR TOLL MANUFACTURING
                      AND THIRD QUARTER RESULTS
    COLUMBIA, Md., Nov. 4 /PRNewswire/ -- IGENE Biotechnology, Inc., reported that it has made arrangements for a large U.S. fermentation company to toll manufacture its natural pigment product, AstaXin. Product is expected to be available in early 1992.  IGENE's manufacturing efforts with Lefersa Alimentos, S.A., in Chile are progressing at a slower than acceptable pace, but IGENE management is still hopeful that satisfactory results are attainable.
    For the third quarter ended Sept. 30, 1991, the company reported a net loss of $185,361, or 2 cents per common share, vs. $236,603, or 3 cents per common share, in the third quarter of 1990.  For the nine-month period ended Sept. 30, 1991, the company reported a net loss of $664,945, or 6 cents per common share, vs. $758,482, or 24 cents per common share, for the corresponding nine-month period last year.
                      IGENE BIOTECHNOLOGY, INC.
                   Condensed Statements of Earnings
    Three Months Ended Sept. 30,                  1991         1990

    Sales                                    $  45,033     $  9,317
    Net loss                                  (185,361)    (236,603)
    Net loss per common share(A)                 (0.02)       (0.03)
    Weighted average common shares
     outstanding                            11,683,185    7,029,851
    Nine Months Ended Sept. 30,                   1991         1990
    Sales                                    $ 150,872     $ 76,788
    Net loss                                  (664,945)    (758,482)
    Net loss per common share(A)                 (0.06)       (0.24)
    Weighted average common shares
     outstanding                            10,830,965    3,276,047
    (A) For purposes of computing net loss per common share, the amount of net loss has been increased by cumulative undeclared dividends in arrears on preferred stock.
    -0-                    11/4/91
    /NOTE:  AstiXin is a registered trademark./
    /CONTACT:  Stephen F. Hiu of IGENE Biotechnology, 301-997-2599/ CO:  IGENE Biotechnology, Inc. ST:  Maryland IN:  MTC SU:  ERN TW-MK -- DC016 -- 0745 11/04/91 12:37 EST
COPYRIGHT 1991 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1991 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Nov 4, 1991
Words:304
Previous Article:THOR REPORTS QUARTERLY SALES UP 93 PERCENT; RECORD RESULTS BETTER THAN EXPECTED
Next Article:R.R. DONNELLEY OPENS JAPANESE MARKET TO U.S. CATALOGERS
Topics:


Related Articles
CISTRON ANNOUNCES INCREASED THIRD QUARTER EARNINGS AND SALES
IGENE BIOTECHNOLOGY, INC., AWARDED PATENT
IGENE/BURNS PHILP MANUFACTURING AGREEMENT STALLED
IGENE BIOTECHNOLOGY, INC. APPOINTS NEW CEO
IGENE Biotechnology Makes Announcement
Igene Biotechnology Announces Commencement of Rights Offering
Igene Completes Successful Rights Offering
ArQule, Inc. to Report Third Quarter Earnings on October 12, 2000.
ArQule, Inc. to Report Third Quarter Financial Results on October 18, 2001.
ArQule, Inc. Reports Financial Results for Third Quarter Ended September 30, 2001.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters