Response Biomedical Corp., a developer and manufacturer of rapid on-site diagnostic tests for use with its RAMP® Platform for clinical and environmental applications, recently announced that the company recorded total revenue of $9.9 million for 2009, an increase of 69 percent compared to 2008. In addition, revenue for the company’s clinical products jumped 85 percent over 2008 to $6.8 million.
For the year ended December 31, 2009, Response Biomedical reported a net loss of $9.5 million, or $0.04 per share, compared to a loss of $13.7 million, or $0.10 per share, in 2008. Details of the company’s complete financial results can be found at www.responsebio.com, SEDAR (Canada) www.sedar.com or EDGAR (US) www.sec.gov/edgar/searchedgar/webusers.htm.
S. Wayne Kay, chief executive officer of Response Biomedical Corporation, stated, “2009 was the strongest revenue year in the history of the company and we are poised to realize similar growth in 2010.” Mr. Kay continued, “Our success in 2009 was driven in great part by our partners, Roche Diagnostics and 3M Health Care, as they continue to recognize achievements in the U.S. O&D Biotech, our distribution partner in China, was also a strong contributor to our overall growth in clinical products revenue in 2009 and Shionogi continued to show steady expansion in Japan.”