Optical molecular imaging developer ART Advanced Research Technologies reported higher sales for its first quarter (end-March 31), but the company's net loss grew at the same time.
ART had first-quarter sales of $1 million, up 162% compared with the $386,000 reported for the first quarter last year. For the period, the Montreal-based firm had a net loss of $3.2 million compared with a net loss of $2.1 million a year ago.
The increase in net loss was attributed to higher R&D expenditures related to clinical trial preparation, ART said.
By AuntMinnie.com staff writers
May 9, 2005
Related Reading
GE, ART sell SAMI to Novartis, October 21, 2003
GE, ART alliance notch first sale, September 23, 2003
ART starts clinical trials, September 19, 2003
GE expands ART relationship, August 14, 2003
Copyright © 2005 AuntMinnie.com
