Finance

Needle-free drug delivery company reports 2003 revenues, with reduced net loss

Published in Medical Letter on the CDC and FDA, September 28th, 2003

Equidyne Corp. (IJX), a needle-free drug delivery systems maker, has filed its Form 10-KSB/A with the U.S. Securities and Exchange Commission containing its audited financial results for the year ended July 31, 2003.

The net loss for the year was $3,327,000, or $0.22 per share, compared to a net loss of $9,478,000, or $0.63 per share, for the year ended July 31, 2002, a decrease of 65%.

Total operating expenses for the year were $4,465,000 compared to $13,886,000 in the prior year, a decline of over 67%. A substantial portion of the losses in both the current fiscal year and prior fiscal year was due to write-downs of assets in the company's...

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Source: Medical Letter on the CDC and FDA (2003-09-28)

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