Medical isotope developer IsoRay Medical posted a nominal increase in revenue for its third quarter (end-March 31), but revenue was basically flat for the nine-month period.
Product sales increased from $1.13 million in the prior year's quarter to $1.16 million. For the nine months, sales were roughly the same as in the corresponding period in 2014, at $3.27 million.
IsoRay said it believes the prostate market has bottomed out, and there is slow adoption of the company's international sales efforts, with the decline of the euro causing its products to increase in price. However, the firm is diversifying and anticipates results from several new institutional-based studies soon. The studies of cesium-131 involve new body sites or are designed to test new theories on how to treat cancer patients with the hope of reducing side effects.
