Radiopharmaceutical developer North American Scientific (NAS) has begun selling its palladium-103 brachytherapy seeds through its new direct sales force. The seeds are currently marketed and distributed by medical device distributor Mentor of Santa Barbara, CA, until January 31, 2003.
Products previously sold pursuant to the Mentor agreement under the trade names IoGold and Pd-Gold will be made available by NAS under its trade names Prospera I-125 and Prospera Pd-103, respectively.
The Chatsworth, CA-based vendor has also reported fourth-quarter and year-end results for fiscal year 2002 (end-October 31) For the fourth quarter, the firm reported net sales of $5.6 million, a 10% increase from the $5.1 million reported for the same period last year. Net loss for the period was $142,000, compared with net income of $93,000 for the prior-year quarter.
For fiscal year 2002, net sales were $20.8 million, up 7% from the $19.3 million posted in fiscal year 2001. However, the company’s net loss for the year was $5.2 million compared with a net loss of $2 million last year.
Pro forma net loss for fiscal year 2002 was $500,000 compared with pro forma net income of $400,000 for fiscal year 2001. These pro forma amounts exclude one-time charges of $2.7 million for the write-off of first-generation technology costs, $2 million for the write-down of net deferred tax assets in the second quarter of fiscal 2002, and also exclude a one-time charge of $2.4 million, net of income tax benefit, for the write-off of linear accelerators in the third quarter of fiscal 2001, according to the company
By AuntMinnie.com staff writersDecember 17, 2002
Related Reading
NAS adds to executive roster, October 3, 2002
NAS ups sales, trims losses in Q3, August 20, 2002
NAS pulls Apomate filing, June 18, 2002
NAS loss widens on one-time charges, May 22, 2002
NAS moves into the black, February 20, 2002
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