Citing market weakness for all types of prostate cancer treatment in the U.S., medical isotope developer IsoRay Medical posted a sharper loss in its fiscal second quarter (end-December 31, 2012) compared with the same quarter the year before.
IsoRay had sales of $975,000 for the quarter, compared with $1.2 million in sales for the previous year's second quarter. The company's operating loss increased from $792,000 in the second quarter of fiscal 2011 to $1.1 million in fiscal 2012.
The prostate treatment revenues reflect the weakening of the overall market due to the U.S. Preventive Services Task Force recommending against routine prostate-specific antigen (PSA) screening, and an increase in "watchful waiting" rather than immediate treatment of early-stage prostate cancer, the company said.
For the month of January 2013, nonprostate-specific revenues increased 152% over the prior six-month average, according to IsoRay. The firm is hopeful that use of the isotope cesium-131 for treatment in other body sites, such as for brain, head and neck, lung, and gynecologic cancers, will improve the company's financial performance.
