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.
Continue Reading Below
(Reporting by Koustav Samanta in Bangalore; Editing by Unnikrishnan Nair)