Medical isotope developer IsoRay Medical of Richland, WA, reported slightly lower sales for the company's second fiscal quarter (end-March 31), although its net loss narrowed in the period.
For the period, IsoRay posted sales of $1.2 million, down 12% compared with sales of $1.4 million in the same period of fiscal 2009. The company said that its sales revenues during the most recent quarter were primarily generated by its Proxcelan cesium-131 brachytherapy seeds for the treatment of prostate cancer.
The company's net loss for the quarter was $1.1 million, compared with a net loss of $1.5 million in the corresponding quarter of fiscal 2009. The firm said that while sales fell short of expectations, IsoRay had completed the first phase of a "right-sizing" initiative, and the company hopes to see revenues grow as applications for cesium-131 expand throughout the body.
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