Radiopharmaceutical probe developer Neoprobe of Dublin, OH, has reported losses in both its fourth quarter and fiscal 2002 (end-December 31, 2002). For the year, Neoprobe reported revenues of $4.9 million, a drop of 84% compared with $8.2 million the year before. For the fourth quarter of 2002, the company reported revenues of $1.7 million, a decrease of 18% compared with $2.1 million in sales for the fourth quarter of 2001.
For the quarter, the firm had a net loss of $165,000 and posted a net loss of $3 million for the year. The developer said that revenues throughout 2002 were adversely affected by a year-end 2001 inventory overstock situation at Ethicon Endo-Surgery of Cincinnati, its primary gamma products distributor. The overstock was eliminated as of the end of 2002.
By AuntMinnie.com staff writersFebruary 20, 2003
Related Reading
Neoprobe launches Quantix, November 21, 2002
Neoprobe’s Q3 revenues sag, November 13, 2002
Neoprobe gets clearance for FlowGuard, February 28, 2002
Neoprobe reports second year of profitability, February 25, 2002
Neoprobe closes Biosonix purchase, January 4, 2002
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