Business
Powered by strong sales of virology products, Microbix continues to move forward in the development of its proprietary technologies
Powered by strong sales of virology products, Microbix continues to move forward in the development of its proprietary technologies.
About this update from Microbix Biosystems Inc.
[{"type":"text","content":"\n\n\n\n\nTORONTO, May 15 /CNW/ - Microbix Biosystems Inc. (MBX:TSX) today\nannounced a 40% increase in sales by its core business, Microbix Virology,\nduring the second quarter of fiscal 2006 compared to the same year-earlier\nperiod.\nOverall revenue declined 18% in the latest quarter as a result of lower\ncontract development and technology-licensing fees. The relative weakness of\nthe U.S. dollar also had a negative impact since most of the Company's revenue\nis denominated in U.S. currency.\nA net loss of $276,901 was recorded in the quarter, compared to a profit\nof $132,230 last year. Much of the loss was attributed to increased costs\nassociated with the start-up of operations at Microbix' new urokinase\nfacility, accelerated development of its Sperm Separation Technology (SST),\nand a non-cash charge related to the issuance of stock options during the\nperiod.\n>\n%SEDAR: 00004220E\n\n\n","length":4394,"tagName":"div"}]