TUSTIN, Calif., Aug. 15 /PRNewswire-FirstCall/ -- AMDL, Inc. , developer and marketer of tests for the early detection of cancer and other serious diseases, today reported its second quarter 2006 financial results.
AMDL’s total product revenues including from its DR-70(R) test kit for the quarter ended June 30, 2006 totaled $17,725 and for the first six months of 2006 totaled $33,100. This compared to revenues of $16,550 for the second quarter ended June 30, 2005 and $39,425 for the first six months of 2005. Gross profit totaled $11,008 for the second quarter of 2006 and $20,611 for the first six months of the current year, compared to $13,961 for the second quarter of 2005 and $32,008 for the first six months of 2005.
The Company announced a loss of $(693,074) or $(0.02) per share for the quarter ended June 30, 2006 compared to a loss of $(606,576) or $(0.03) per share for the same time period in 2005. The loss for the six months of 2006 totaled $(1.6 million) or $(0.05) per share compared to a loss of $(1.2 million) or $(0.05) per share in the first six months of 2005
“We are totally focused on receiving U.S. Food and Drug Administration clearance to market our DR-70 cancer test in the United States. This will strengthen our position in overseas markets. In addition, “we are seeking to win shareholder approval to acquire two Chinese based pharmaceutical companies from Jade Capital Ltd.,” Gary L. Dreher, CEO of AMDL said. “This will provide a manufacturing and marketing base for Asia and, in particular, the world’s most populous nation, China.”
About AMDL
AMDL, Inc. , headquartered in Tustin, California, is a theranostics company, involved in the detection and treatment of the same disease, cancer. AMDL is the inventor, developer and worldwide marketer through exclusive distribution agreements of the DR-70(R) non-invasive cancer blood test, which has demonstrated its ability to detect the presence in humans of up to 13 cancers 84 percent of the time overall. In a study published in the Journal of Immunoassay (1998, vol. 19, pp 63-72) DR-70(R) was shown to detect at least 13 different types of cancer (lung, breast, stomach, liver, colon, rectal, ovarian, esophageal, cervical, trophoblastic, thyroid, malignant lymphoma, pancreatic) although the sample size for 9 of the cancers was not statistically significant. Clinical trials of DR-70(R) have been conducted in Canada, China, Germany, Taiwan and Turkey. DR-70(R) can detect many kinds of cancer using a single tube of blood, eliminating the need for costly, multiple tests. AMDL also owns a combination immunogene therapy technology that is a possible treatment for those already diagnosed with cancer and could eventually be used as a vaccine to protect patients known to be at risk because of a family history for certain types of cancer. The combination therapy both builds the body’s immune system and destroys cancer cells. More information about AMDL and its additional products can be obtained at http://www.amdl.com.
Forward-Looking Statements
Statements in this press release may constitute forward-looking statements and are subject to numerous risks and uncertainties, including the failure to complete successfully the development of new or enhanced products, the Company’s future capital needs, the lack of market demand for any new or enhanced products the Company may develop, any actions by the Company’s partners that may be adverse to the Company, the success of competitive products, other economic factors affecting the Company and its markets, and other risks detailed from time to time in the Company’s filings with the Securities and Exchange Commission. The actual results may differ materially from those contained in this press release. The Company disclaims any obligation to update any statements in this press release.
Contact: AMDL, Inc. Gary L. Dreher President & CEO (714) 505-4460
AMDL, Inc.
CONTACT: Gary L. Dreher, President & CEO of AMDL, Inc., +1-714-505-4460
Web site: http://www.amdl.com/
