DENVER, March 20 /PRNewswire-FirstCall/ -- Accelr8 Technology Corporation today reported a loss of $456,359 or $0.05 per share on net revenues of $85,149 for the quarter ended January 31, 2007. In the comparable three-month period of fiscal 2006, Accelr8 reported a net loss of $785,545 or $0.08 per share on net revenues of $55,490.
According to David Howson, Accelr8’s president, “the reduced losses reflect the completion of the first BACcelr8r(TM) laboratory prototypes. We’ve used them to successfully complete the first pilot study on one of our three major antibiotic resistance category identification tests. We will present the results in May at the annual meeting of the American Society for Microbiology. We’ve now expanded the study on rapid ‘MRSA’ identification -- the most common cause of hospital acquired ‘Staph’ infections -- and obtained large bacterial collections for statistical testing.”
“In addition, we’re progressing with tests to identify the other two major resistance categories. Both of the additional categories occur in different bacteria that are more difficult to identify and treat than MRSA. These serious infections outnumber Staph infections by about 2:1 in the ICU. Some have also become a serious problem in wound infections with our military personnel, compounding the terrible injuries they’ve already suffered.”
“We’ve begun the BACcel(TM)-1.0 product development program with limited objectives to deliver enhanced research prototypes that will further increase our experimental throughput. We’ve also begun the process to obtain human specimens, initially to optimize our sample preparation procedures.”
“Finally, our microarraying products have received some attention in the scientific press. An article in Nature on protein microarraying identified the Schott slides -- licensed from Accelr8 -- as a serious contender. Also, an academic consortium led by the Scripps Research Institute has published research on rapid and precise flu virus variant identification using our slides. We believe that these events show promise for molecular diagnostics platforms to eventually adopt microarraying, adding to our total diagnostics business potential,” Howson concluded.
About Accelr8
Accelr8 Technology Corporation (www.accelr8.com) is a developer of innovative materials and instrumentation for advanced applications in medical instrumentation, basic research, drug discovery, and bio-detection. Accelr8 is developing a rapid clinical pathogen platform, the BACcelr8r(TM), based on its innovative surface coatings, assay processing, and detection technologies. In addition, Accelr8 licenses certain of its proprietary technology for use in applications outside of Accelr8’s own products.
Accelr8 Technology Corporation
CONTACT: John Metzger of Metzger Associates, +1-303-786-7000, ext. 2202,john@metzger.com; or Tom Geimer, of Accelr8 Technology Corp.,+1-303-863-8088, tom.geminer@accelr8.com
Web site: http://www.accelr8.com/
