BioLight Life Sciences Investments reports operational and financial results for Q2 2015
Published on September 1, 2015 at 8:22 AM ·
BioLight Life Sciences Investments (OTCQX: BLGTY, TASE: BOLT) ("BioLight" or the "Company"), a firm that invests in, manages and commercializes biomedical innovations in ophthalmology and cancer diagnostics, today reported operational and financial results for the second quarter ended June 30, 2015.
Completed an upsized private investment and signed a strategic partnership with Rock-One International Holdings Ltd. designed to help BioLight maximize its presence within China, the second largest healthcare market in the world after the U.S.
Signed a collaboration agreement with Ora, Inc., a world-leading independent, full-service ophthalmic contract research organization and product development firm, pursuant to which the companies will work together to advance the clinical, regulatory and commercial development of its TeaRx™ multi-parameter diagnostic test for dry eye syndrome (DES).
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Reported first IOPtiMate™ System sales in new territories as well as the first sale of the IOPtiMate™ system procedures.
Obtained CE Marking for the CellDetect® non-invasive test for detecting bladder cancer in urine, enabling the product to be marketed and sold in Europe and other territories.
Subsequent to the end of Q2, reported positive clinical study results for the identification of new genetic markers to predict risk of developing BRONJ.
All dollar amounts are expressed in New Israeli Shekels ("NIS"), with a convenience U.S. dollar translation of NIS amounts provided using the rate of NIS 3.769 to US$1.00, the representative rate of exchange as of June 30, 2015, and results are reported in accordance with International Financial Reporting Standards.
For the three months ended June 30, 2015, BioLight's revenues were NIS 325,000 (US$ 86,000). The net loss for the second quarter of 2015 was approximately NIS 8.4 million (US$ 2.2 million), or NIS 0.10 loss per share, as compared to a net loss of approximately NIS 11.3 million (US$ $3.0 million), or NIS 0.12 loss per share, for Q2-2014.
BioLight ended the second quarter in a strong financial position. As of June 30, 2015, the Company had approximately NIS 43 million (US$ 11.4 million) in cash and short-term deposits.
"BioLight realized important progress during the second quarter, including the completion of strategic partnership agreements and commercial projects that will allow us to expand and grow our presence into new markets and territories," commented BioLight's Chief Executive Officer, Suzana Nahum Zilberberg. "We look forward to updating our stakeholders as we continue to execute our growth strategy and carry this momentum into the second half of the year."
BioLight Life Sciences Investments Ltd.