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Publicatie datum
11 mrt 2010 - 07:44
Statutaire naam
MDxHealth
Titel
OncoMethylome Sciences announces 2009 Financial Results
Bericht
Liège (Belgium) – March 11, 2010, 7:00 AM CET – OncoMethylome Sciences SA publishes its financial results for the period ended December 31, 2009.
Starting at the end of 2009, OncoMethylome focused its R&D efforts on four core areas: colorectal cancer screening, bladder cancer detection, prostate cancer detection, and pharmacogenomics. In parallel, the company has initiated cost reductions which are expected to reduce current operating costs by approximately 25%, with the full impact expected in 2011.
Outlook for 2010
• Revenues are expected to remain stable and are expected to include revenues from (i) the 3 tests already being sold in North America, (ii) new commercial deals, (iii) personalized medicine collaborations, and (iv) grants.
• Operating expenses are expected to decrease significantly in 2010 with the implementation of several cost-cutting initiatives.
• Overall, the company expects to reduce its cash burn in 2010 compared to 2009.
“In 2009, OncoMethylome focused its R&D on product areas which have the highest likelihood of creating value going forward. This focusing will allow us to dedicate more resources and attention to a core set of products, thus optimizing their development and clinical validation, while significantly reducing operating costs going forward. The OncoMethylome technology continues to be an excellent technology for cancer applications as demonstrated by our strong scientific publications in 2009”, commented Philip Devine, interim CEO and CFO of OncoMethylome Sciences.
Datum laatste update: 01 september 2024