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Akers Biosciences Inc
- BY: Andrew Hore |
- POSTED: 24/03/2009 |
- COMMENTS: Add yours
Diagnostics products developer Akers Biosciences Inc moved into profit in 2008.
Revenues grew from $5.52m to $6.08m in 2008, while a pre-amortisation and share based payments loss of $103,000 was turned into a profit of $431,000. The latest profit figure is after a £1m foreign currency translation expense. Net cash is $4.22m.
There are plans to launch two new products this year - Breath Ketone ‘Check’ and the Breath PulmoHealth ‘Check’. The former detects ketones in a diabetics breath. It will be the only rapid disposable ketones test in the world. The Breath PulmoHealth ‘Check’ can monitor a signal of lung cancer.
House broker Arbuthnot believes that revenues will nearly double this year and profits will rise significantly.
Shares in Akers rose 2p to 15.25p each, which values the company at £17m.
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