Printer Friendly

PERSEPTIVE BIOSYSTEMS ANNOUNCES THIRD QUARTER RESULTS

 PERSEPTIVE BIOSYSTEMS ANNOUNCES THIRD QUARTER RESULTS
 CAMBRIDGE, Mass., Aug. 3 /PRNewswire/ -- PerSeptive Biosystems Inc.,


(NASDAQ: PBIO) today reported results for the third quarter and nine months ended June 30, 1992. Revenues for the third quarter were $1,357,000 and there was a net loss of $970,000 or 16 cents per share, compared with revenues of $207,000 and a net loss of $1,044,000 or 20 cents per share for the comparable period in 1991.
 For the nine-month period ended June 30, the company reported revenues of $2,957,000, compared with $489,000 for the same period in 1991. The net loss for the period was $2,730,000, or 51 cents per share, compared with $2,873,000 and 57 cents per share for the nine- month period ended June 30, 1991.
 Dr. Noubar B. Afeyan, president and chief executive officer of PerSeptive Biosystems, said, "The quarter and nine month results show significant increases in the demand for our products, as well as investments in expanding our product line and technology development. PerSeptive has shown quarter-to-quarter gains in revenues since the introduction of our first products in April 1990. This demand results from the productivity gains that biopharmaceutical developers have achieved with the use of Perfusion Chromatography(R)."
 "During the quarter, PerSeptive Biosystems also successfully completed an initial public offering raising a net of $20,125,000 through the sale of 2,875,000 million shares of common stock," Dr. Afeyan added. "This funding will fuel the ongoing commercialization of our products and the launch of several new products during the coming months.
 PerSeptive Biosystems, designs, manufactures, and markets proprietary products and systems for the purification and analysis of biomolecules. These bioseparations products are designed to reduce significantly the time and cost required for development and manufacture of biopharmaceuticals. The company's current and planned products for the purification and analysis of biomolecules are based on three interrelated core technologies: Perfusion Chromatography, Immunodetection(tm) and Rational Surface Design(tm).
 Perfusion Chromatography and POROS(R) are registered trademarks and Immunodetection and Rational Surface Design are trademarks of the company.
 PERSEPTIVE BIOSYSTEMS, INC.
 Financial Highlights
 Three Months Ended Nine Months Ended
 June 30, June 30,
 1992 1991 1992 1991
 Revenues $1,357,000 $207,000 $2,957,000 $489,000
 Net loss (970,000)(1,044,000) (2,730,000)(2,873,000)
 Net loss per
 share (16 cents) (20 cents) (51 cents) (57 cents)
 Weighted average
 shares 7,360,000 5,674,000 6,899,000 5,654,000
 -0- 8/3/92
 /CONTACT: Robert Fein, vice president and CFO of PerSeptive Biosystems, 617-621-1787, or Pam Haslam of Feinstein Partners, 617-577-8110, for PerSeptive Biosystems/
 (PBIO) CO: PerSeptive Biosystems ST: Massachusetts IN: MTC SU: ERN


TM -- NE001 -- 5990 08/03/92 09:00 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Aug 3, 1992
Words:466
Previous Article:FEDERAL HOME LOAN BANK OF NEW YORK SEES CONTINUATION OF BOND RALLY
Next Article:THE RIVAL CO. REPORTS INCREASE IN EARNINGS
Topics:


Related Articles
ROBERT B. ANACONE NAMED SENIOR VICE PRESIDENT, MARKETING AND SALES AT PERSEPTIVE BIOSYSTEMS
PERSEPTIVE BIOSYSTEMS, INC. LAUNCHES AUTOPILOT FOR PILOT-SCALE PURIFICATION WITH FIRST SYSTEM SALE
PERSEPTIVE BIOSYSTEMS ANNOUNCES ACQUISITION OF VESTEC CORPORATION
PERSEPTIVE BIOSYSTEMS REPORTS RESULTS FOR FIRST FISCAL QUARTER OF 1996
PERSEPTIVE BIOSYSTEMS' STOCKHOLDERS APPROVE ACQUISITION OF PERSEPTIVE TECHNOLOGIES II CORPORATION
PERSEPTIVE BIOSYSTEMS WINS PATENT DISPUTE
PERSEPTIVE BIOSYSTEMS INTEGRATES BIOMOLECULE PURIFICATION AND ANALYSIS IN NEW VISION(TM) WORKSTATION
PerSeptive Biosystems, Inc. Announces Departure of Robert Anacone
PerSeptive Biosystems Reports Fourth Quarter Fiscal 1996 Results
PerSeptive Biosystems Reports Results for Second Fiscal Quarter of 1997; Product Sales up 20%; EPS of $1.02 Includes Gain from ChemGenics Merger

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