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Article: OncoVista (OVIT.PK) Reports 287% Increase in 2Q Revenues Due to Subsidiary's Proprietary Branded Products.
- Article from:
- Business Wire
- Article date:
- November 5, 2009
CopyrightCOPYRIGHT 2009 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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SAN ANTONIO -- OncoVista Innovative Therapies, Inc. (OVIT.PK) reported strong growth in revenue, in the second quarter of 2009. Revenues increased to $457,670 up from $159,250 in the prior year period. Net loss per diluted share was $0.16 compared with a loss of $0.22 per diluted share in the prior period.
Dr. Alex Weis, President of OncoVista said, "Our increase in revenues is due to the partnerships we have established with distribution companies over the past year. The branded proprietary products of our subsidiary, AdnaGen AG, are presently sold in ten countries and the United States. We expect our revenues to continue to increase as our products become more ...