CEO Dr. Alan Schwebel: In addition to the current financial results, the company made progress in 2010 in its two areas of business.
Cancer diagnostic kits developer BioView Ltd. (TASE:BIOV) posted a net profit of NIS 5.2 million (NIS 0.39 per share) in 2010, 480% more than the NIS 1.1 million for 2009. Fourth quarter net profit was a record NIS 3 million.
Revenue rose 2% to NIS 25.3 million in 2010 from NIS 22.5 million in 2009. Fourth quarter revenue was a record NIS 6.9 million.
BioView president and CEO Dr. Alan Schwebel said, "In addition to the current financial results, the company made progress in 2010 in its two areas of business: R&D in circulating tumor cells (CTC), mostly in collaboration with Massachusetts General Hospital; and development of its lung cancer project in preparation of an application with the US Food and Drug Administration (FDA)."
BioView's share price rose 4.2% in morning trading to NIS 2.50, giving a market cap of NIS 32 million.
Published by Globes [online], Israel business news - www.globes-online.com - on March 13, 2011
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