Neoprobe posts Q2 loss on higher sales

Neoprobe of Dublin, OH, announced a net loss for the second quarter, although the firm's revenues edged higher on increased sales of its gamma detection systems.

For the period (end-June 30), the company posted revenues of $1.5 million, up 6% compared with sales of $1.4 million in the same period the year before. Neoprobe had a net loss for the quarter of $1.1 million, compared with a net loss of $861,000 in the corresponding quarter of 2006.

The company's operating expenses increased for the first half of 2007 because of increased clinical trial activity for Lymphoseek, Neoprobe's lymphatic mapping agent that's labeled with technetium-99m DTPA-mannosyl-dextran. The agent is designed to be used with handheld gamma detection devices in sentinel lymph node biopsy procedures.

Also in the second quarter of 2007, the company reported preliminary results from its phase II Lymphoseek trial in breast cancer and melanoma; Lymphoseek identified lymphatic tissue in more than 94% of surgically treated patients, according to Neoprobe.

By staff writers
July 26, 2007

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Copyright © 2007

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