BioView Ltd. (TASE:BIOV), a developer of automated cell diagnostic system for the detection of cancer, today published record full year results for 2009. The share rose 55.4% to NIS 1.95, giving a market cap of NIS 24 million.
BioView posted a net profit of NIS 1.1 million in 2009, compared with a net loss of NIS 1.6 million in 2008. This was the first time that the company reported a net profit.
Revenue rose 21% to NIS 22.5 million in 2009. The company attributed the increase to growth in its current operations and product sales. Profit from current operations rose to NIS 1.9 million in 2009 from a loss of NIS 800,000 in 2008.
BioView president and CEO Dr. Alan Schwebel said that the company would continue its efforts to promote development of its kit for the early detection of cancer with Clarient Inc. (Nasdaq: CLRT). "Clarient has a long history of collaboration with academic institutions and breakthrough companies for the development of innovative biomarker-based oncology tests. We're pleased that it is our first partner for the development of a test based on BioView's technology. We believe that this collaboration will help complete development and commercialization of the test through Clarient's established operating channels," he said.
Published by Globes [online], Israel business news - www.globes-online.com - on March 18, 2010
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