TUSTIN, Calif., May 16 /PRNewswire-FirstCall/ -- AMDL, Inc. , developer and marketer of tests for the early detection of cancer and other serious diseases, reported results for the three months ended March 31, 2006.
AMDL's revenues from its DR-70(R) test kit decreased to $15,375 compared to $22,875 for the three months ended March 31, 2005. All sales of the proprietary cancer detection test were to Korea and Taiwan. Net loss for the three months ended March 31, 2006 was $911,913 or ($0.03) per share compared to a net loss of $554,978, or ($0.02) per share, for the three months ended March 31, 2005.
AMDL announced that gross profit decreased to $9,603 for the period ended March 31, 2006 compared to gross profit of $18,047 in the comparable period in 2005. Total assets decreased to $2,912,999 at March 31, 2006 compared to $3,181,841 at December 31, 2005.
"The Company's primary objective remains receiving U.S. Food and Drug Administration clearance to market its DR-70(R) test in the U.S. We are aware that FDA approval would assist in market awareness and acceptance in the international markets that we will seek," Gary L. Dreher, CEO of AMDL.
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
