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BioMS posts Q2 profit



18 July 2009 @ 06:11 am ET

BioMS Medical Corp posted a quarterly profit, helped partly by lower research and development expenses.

For the second quarter, net income was C$1.5 million ($1.35 million), or 2 Canadian cents a share, compared with a loss of C$402,000, or breakeven a share, a year earlier.

Revenue from the company's collaboration agreement rose 6 percent to C$11.9 million.

The biotechnology company's research and development expenses fell 13 percent to C$8.1 million in the second quarter.

Shares of the Edmonton, Alberta-based company were down 1 Canadian cent at C$2.79 Friday after the bell.

(Reporting by Koustav Samanta in Bangalore; Editing by Unnikrishnan Nair)

Copyright 2009 Thomson Reuters. All rights reserved.

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