I believe the use of biomarkers to personalize medicine will be an increasing future trend. The following article outlines the reasons behind the increasing interest in biomarkers in clinical trials.
drugdiscoverynews.com
Pacific Biomarkers is a micro-cap company that I have been buying recently. For fiscal 2006 the company achieved a net income for the year of $179,103 or $0.01 per fully diluted share, compared with a net loss of $2,992,960, or $0.24 per fully diluted share, for the same period during fiscal 2005. Comments from the CEO are as follows:
"2006 has proven to be the best year ever recorded in PBI's history," commented Ron Helm, Chairman and Chief Executive Officer of Pacific Biometrics. "Increased business development efforts and a reputation as the premier laboratory across multiple categories of biomarkers have driven record revenues, and we anticipate this trend to continue in fiscal 2007."
The results for the first quarter of 07 showed a loss due to restricted stock and stock based compensation. However, net cash flow and cash equivalents increased.
"Revenues for the first quarter increased 42% to $2,604,884 from $1,834,442 for the comparable period last year. Operating income for the first quarter of 2007 was reduced by a significant stock-based compensation expense of $545,558 relating to restricted shares and stock options granted during the quarter, and resulted in a net operating loss of $95,686 compared with net operating income of $50,155 for the same period last year. Total net loss for the first fiscal quarter was $203,028, or $0.01 per share, compared with a total net loss of $180,166, or $0.01 per share, for the same period during fiscal 2006. Net cash flow from operations has improved significantly to a positive $633,377 for the first fiscal quarter, compared to a negative $307,282 for the same period last year. Cash and cash equivalents balance has also improved to $5,944,456 for the first fiscal quarter, compared to $652,342 for the same period last year."
The company recently authorized a share buyback plan.
The company website is as follows: www.pacbio.com |
