<font color=green>Dimethaid Q3 Pennsaid sales to top $1.2-million (U.S.)
2003-12-17 11:36 MT - News Release
An anonymous director reports
DIMETHAID PROVIDES CORPORATE UPDATE
Dimethaid Research has indicated that it expects second-quarter sales of its lead product Pennsaid to top $1.2-million (U.S.), representing a 70-per-cent increase over the previous quarter. The company also anticipates sales will continue growing throughout the remainder of the fiscal year.
"We are extremely pleased with how well the marketplace has responded to Pennsaid," said Rebecca Keeler, president and chief executive officer of Dimethaid Research.
Total revenue for the second quarter, ended Nov. 30, 2003, will exceed $1.4-million (U.S.). The company expects to report its second quarter results in mid-January.
Business development
To continue expanding worldwide Pennsaid sales, Dimethaid is also focusing on new business partnerships in countries where the product has received final approval. Negotiations are now under way with marketing and sales organizations in Finland, Greece, Iceland and Portugal.
Cash management
In November Dimethaid successfully completed a special warrant private placement, raising over $9.8-million (U.S.) in net proceeds. The company is effectively managing its cash position in light of the recent Provalis arbitration award, and will continue to take appropriate steps to conserve cash as Pennsaid sales ramp up in Canada, Italy and the United Kingdom.
WARNING: The company relies upon litigation protection for "forward-looking" statements. |
