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Q3 sales up for DiagnoCure but net loss widens

This article was originally published in Clinica

Executive Summary

Cancer diagnostics specialist DiagnoCure saw sales of its noninvasive bladder cancer test, ImmunoCyt / uCyt+, jump 74% to around Can$111,750 ($104,140) for Q3 2008. However, revenue for the period was hurt by lower interest income, due to the use of funds to finance the company's operations and a reduction in interest from its investments. Turnover for the third quarter was down 13% to Can$486,070. Increase in cost of sales and R&D expenses and led to net loss nearly doubling to Can$4.2m for the period.

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