Response Biomedical Pre-Announces 2009 Year-End Revenues
Record Revenues for the Year
Conference Call on March 25th to discuss full results
VANCOUVER, British Columbia--(BUSINESS WIRE)--Response Biomedical Corporation (TSX: RBM, OTCBB: RPBIF) announced that the Company expects to report annual revenues of approximately $10 million in 2009, as compared to $5.876 million in 2008. The Company will host a conference call and announce complete fourth quarter and year-end financial results on March 25th.
“This is an exciting time in the Company’s history, with 2009 being a record year for overall revenue. These results are consistent with our plan, which anticipates another near-doubling of revenues in 2010 and becoming cash flow positive during the 4th quarter of 2010”
“This is an exciting time in the Company’s history, with 2009 being a record year for overall revenue. These results are consistent with our plan, which anticipates another near-doubling of revenues in 2010 and becoming cash flow positive during the 4th quarter of 2010,” said S. Wayne Kay, Chief Executive Officer. “This exciting revenue growth in the rapid point-of-care market space is in great part the result of our blue chip partners, Roche Diagnostics, 3M Health Care and Shionogi Limited, together with our own efforts in China. Roche Diagnostics launched our cardiac line earlier in 2009 in the U.S. and 3M continued its launch of the Flu A+B product in the U.S., also adding our RAMP® RSV test to the platform this past October, as well. We look forward to discussing our progress this week, as we attend the 28th Annual J.P. Morgan Healthcare Conference in San Francisco.”
About Response Biomedical
Response Biomedical develops, manufactures and markets rapid on-site diagnostic tests for use with its RAMP® Platform for clinical and environmental applications. RAMP® represents a new paradigm in diagnostics that provides high sensitivity and reliable information in minutes. It is ideally suited to both point of care testing and laboratory use.
The RAMP® system consists of a Reader and single-use disposable test cartridges, and has the potential to be adapted to more than 250 medical and non-medical tests currently performed in laboratories. RAMP® clinical tests are commercially available for the early detection of heart attack, congestive heart failure, influenza and RSV through our commercial partners, Roche and 3M Health Care respectively.
In the non-clinical market, RAMP® Tests are currently provided for the environmental detection of West Nile Virus, and Biodefense applications including the rapid on-site detection of anthrax, smallpox, ricin and botulinum toxin. Several other product applications are under development.
Response has achieved CE Marking for its Reader and clinical tests and its Quality Management System is registered to ISO 13485: 2003 and ISO 9001: 2008.
Response Biomedical is a publicly-traded company listed on the TSX under the trading symbol "RBM" and quoted on the OTC Bulletin Board under the symbol "RPBIF". For further information, please visit the Company's website at www.responsebio.com.
