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MICROPROBE REPORTS THIRD QUARTER AND NINE MONTH RESULTS

 BOTHELL, Wash., Nov. 15 /PRNewswire/ -- MicroProbe Corporation (NASDAQ-NMS: MPRO, MPROW) today announced financial results for the third quarter and nine months ended Sept. 30, 1993.
 Net revenue for the third quarter totaled $368,000, representing a 113 percent increase from the third quarter of 1992. Net loss for the third quarter totaled $3.4 million, compared to $2 million for the third quarter of 1992. Net loss from continuing operations was $2.9 million, compared to $1.8 million for the third quarter of 1992. Net loss per share was $.59 on 5,883,195 shares, compared to $.56 per share on 3,599,809 shares in the same period of 1992.
 Net revenue for the nine months ended Sept. 30, 1993 totaled $1 million, representing a 55 percent increase from the first nine months of 1992. Net loss for the first nine months totaled $11.3 million, compared to $5.1 million for the first nine months of 1992. Net loss from continuing operations was $10 million, compared to $4.1 million for the first nine months of 1992. Net loss per share was $2.03 on 5,555,584 shares, compared to $2.05 per share on 2,470,437 shares in the same period of 1992. The increase losses were due to expenditures for the commercialization of the company's first diagnostic products and the expanded therapeutics research and development programs.
 "Our first quarter as a public company has been highly productive," said Harvey J. Hoyt, M.D., Chief Executive Officer of MicroProbe. "During this third quarter, we raised net proceeds of $14.2 million in our initial public offering (IPO). These funds will help MicroProbe continue its rapid rate of progress in developing oligonucleotides as new therapeutic compounds and for diagnostic tests."
 Since the third quarter, MicroProbe has signed an agreement with Procter & Gamble (P&G) to evaluate the clinical efficacy of the Affirm(R) DP System, which is currently marketed outside the United States. MicroProbe has also been awarded a competitive grant worth up to $520,000 from the National Institute of Allergy and infectious Diseases (NIAID) to fund development of MicroProbe's novel DNA probe technology to detect specific antibiotic resistance in patients with tuberculosis.
 "This year has seen us make important steps to advance the development of MicroProbe's oligonucleotide technology for diagnostic applications," said Allan G. Cochrane, President of MicroProbe. "The Affirm(R) VP III System has given us an excellent entry point into the increasingly important women's healthcare market. With the grant from the National Institutes of Health (NIH) and the agreement with P&G, MicroProbe is now able to explore other potential markets for its DNA probe-based diagnostic systems."
 "Our goals for 1994 are designed to continue the significant momentum we have built in this year," said Dr. Hoyt. "We plan to seek more therapeutic and diagnostic collaborations, and we hope to obtain good results from preclinical studies on our anti-viral compounds. In addition, we plan to dispose of Source Scientific Systems, Inc., a manufacturing subsidiary that is no longer aligned with our strategic objectives."
 MicroProbe Corporation, based in Bothell, Wash., is a biomedical company focused on the development of oligonucleotides as new therapeutic compounds and for diagnostic tests. The company is developing new classes of therapeutics for cancer and viral diseases and is currently marketing its Affirm(R) VP III System, a diagnostic for vaginitis, in the Untied States and parts of Europe.
 MICROPROBE CORP. AND SUBSIDIARY
 Consolidated Financial Information
 (Unaudited)
 Period ended Three months Nine months
 Sept. 30, 1993 1992 1993 1992
 Revenue:
 Product revenue $ 296,391 $ 34,208 $ 738,696 $ 130,346
 Research contract revenue 71,242 138,432 266,284 519,335
 Total: 367,633 172,640 1,004,980 649,681
 Operating expenses:
 Cost of product revenue 485,784 154,478 1,240,285 380,527
 Research and
 development 1,308,560 1,041,714 3,687,620 2,645,786
 SG&A 1,495,373 753,029 3,595,394 1,664,781
 Cost of litigation --- --- 2,500,000 ---
 Total 3,289,717 1,949,221 11,023,299 4,691,094
 Operating loss from
 continuing opers. (2,922,084)(1,776,581)(10,018,319)(4,041,413)
 Other income (expense):
 Interest income 6,055 11,257 47,804 18,199
 Interest and financing
 expense (31,246) (30,507) (66,512) (114,996)
 Loss from continuing
 operations (2,947,275)(1,795,831)(10,037,027)(4,138,210)
 Discontinued operations:
 Income (loss) from opers.
 of Source Scientific
 Systems, Inc. --- (223,697) 139,642 (914,470)
 Provision for loss on
 disposal of Source
 Scientfic Systems, Inc. (500,000) --- (1,360,000) ---
 Net loss (3,447,275)(2,019,528)(11,257,385)(5,052,680)
 Loss per share from
 continuing operations (0.51) (0.50) (1.81) (1.68)
 Loss per share from
 discontinued operations (0.08) (0.06) (0.22) (0.37)
 Net loss per share (0.59) (0.56) (2.03) (2.05)
 Shares outstanding 5,833,195 3,599,809 5,555,584 2,470,437
 Selected Balance Sheet Data
 9/30/93 12/31/92
 Cash and investments $ 269,547 $ 106,488
 Total assets 4,559,584 5,032,526
 Total liabilities 6,487,586 2,896,048
 Total shareholders' equity
 (deficit) (1,928,002) (2,136,478)
 -0- 11/15/93
 /CONTACT: Gregory Sessler, chief financial officer of MicroProbe Corporaiton, 206-485-8566, or Melody Carey (ext. 204) or Rich Tammero (ext. 222) of Noonan/Russo Communications, 212-696-4455/
 (MPRO)


CO: MicroProbe Corporation ST: Washington IN: MTC SU: ERN

MP -- NY046 -- 4366 11/15/93 11:36 EST
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Date:Nov 15, 1993
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