Medical isotope developer IsoRay has posted financial results for its first quarter of 2008.
For the period (end-September 30), the Richland, WA-based company saw sales increase by 81% to $1.8 million compared to the same period in 2007. The company attributed the growth to an expansion of its direct sales team, as well as an increased number of medical centers ordering Proxcelan brachytherapy seeds.
IsoRay's net loss decreased from $2.9 million in the first quarter of 2007 to $2.1 million in the first quarter of 2008.
IsoRay also reported that the Centers for Medicare and Medicaid Services (CMS) released its final payment rates for brachytherapy seeds on November 1. The final nonstranded rate per seed for cesium ($64.08) was an improvement of $12.73 over the proposed rate ($51.35). The final rate per seed for stranded brachytherapy was unchanged from the proposed rate ($97.72).
By AuntMinnie.com staff writers
November 9, 2007
Related Reading
IsoRay inks global alliance with Belgian firm, September 27, 2007
IsoRay expands new brachytherapy plant, August 30, 2007
IsoRay to join AMEX, April 16, 2007
IsoRay continues cesium-131 placements, April 5, 2007
IsoRay scores additional financing, March 23, 2007
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