Radioisotope developer North American Scientific reported net sales of $4.3 million in its fiscal first quarter, up 7.5% compared with the $4 million posted for the same period last year. For the period (end-January 31), the Chatsworth, CA-based firm reported a net loss of $237,000, compared with net income of $1.2 million last year.
Development work associated with the Apomate radiopharmaceutical imaging agent impacted the quarterly bottom line, according to NAS president and CEO Michael Cutrer. NAS continues to believe that Apomate will be approved by the Food and Drug Administration before the end of 2002, Cutrer said. The firm expects that the first approved Apomate indication will be for the assessment of cardiac transplant rejection, an application for which the agent received "Orphan Drug" status from the FDA in December.
By AuntMinnie.com staff writersMarch 1, 2001
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