Business
SPECTRAL ANNOUNCES FIRST QUARTER RESULTS
May 12, 2011 (Canada NewsWire Group) -- TORONTO, May 12 /CNW/ - Spectral Diagnostics Inc., (...
About this update from Spectral Medical Inc
[{"type":"text","content":"\n\n\n May 12, 2011 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\nTORONTO, May 12 /CNW/ - Spectral Diagnostics Inc., (TSX:SDI), a Phase III company developing the first theranostic treatment for\n patients with septic shock, today announced its financial results for\n the first quarter ended March 31, 2011.\n\n\nFirst Quarter Highlights:\n\n\n\nJointly announced with Medwell Capital Corp., ("Medwell"), (TSX-V:MWC),\n a non-brokered arrangement whereby Medwell and a consortium of buyers\n purchased, in private transactions, 12,449,501 common shares and\n 962,500 common share purchase warrants of Spectral from GrowthWorks\n Canadian Fund Ltd., representing 15.6% of the issued and outstanding\n shares. Medwell now owns approximately 45% of the outstanding common\n shares of Spectral;\n\n\n\n\nContinued to effectively manage its U.S. pivotal trial for Toraymyxin, a\n therapeutic hemoperfusion device that removes endotoxin from the\n bloodstream. The EUPHRATES trial is targeted to enrol approximately 360\n patients at 15 sites in the U.S. over a period of 24 to 30 months, with\n interim results expected at the midpoint of the trial by the end of the\n first half of 2012;\n\n\n\n\nSubsequent to quarter end, announced that all 15 carefully chosen\n clinical sites for the EUPHRATES trial are screening patients and\n enrolment in the Company's Phase III sepsis trial is underway;\n\n\n\n\nConcluded the reporting period with $13.6 million in cash and short term\n investments.\n\n\n...