Optical breast imaging developer DOBI Medical International of Mahwah, NJ, reported financial results for fiscal 2004 that show the development-stage company beginning to generate revenue for the first time.
For the year (end-December 31), DOBI posted sales of $321,000, compared with no revenues in 2003. The company had a net loss of $8 million, compared with a net loss of $5.2 million the previous year.
The company said it incurred increased operating expenses for the year, of $7 million compared to $3.5 million in 2003. DOBI's 2004 expenses included costs incurred in the development of its ComfortScan system, clinical testing associated with the company's premarket approval (PMA) application for the product, and the expansion of the firm's international distribution network.
By AuntMinnie.com
March 14, 2005
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