“We are pleased with our FY2016 results. Over the course of this past year, we have achieved our two key objectives – to establish a solid market position for our core molecular information services business, and to advance our technology to provide new bioanalytical capabilities, particularly in the development of our groundbreaking test for malignant melanoma,” stated
Selling, general and administrative expenses decreased 19% year over year, to
The loss from operations for the fiscal year ended
Net cash used in operations was
The Company believes that its growth is driven by its proprietary capabilities to provide molecular information at the cellular level that can be of critical importance to new drug development processes, particularly for biopharmaceuticals. In 2016 the Company launched a number of new service capabilities for the molecular characterization of therapeutic antibodies, including combined proteomic-metabolomic workflows and ultra-high resolution, accurate mass analytics capabilities. In 2017, the Company plans additions to its molecular imaging technology platforms, and continued progress is anticipated from the Company’s melanoma diagnostic clinical validation studies now underway.
The Company will host an Investor Call today at
https://proteabio.adobeconnect.com/_a739805134/hgoodman_meetingroom/
About
Forward-Looking Statements; This press release may contain statements relating to future results or events, which are forward–looking statements. Words such as “expects”, “intends”, “plans”, “may”, “could”, “should”, “anticipates”, “likely”, “believes” and words of similar import may identify forward-looking statements. These statements are not historical facts, but instead represent only the Company’s belief regarding future events, many of which, by their nature, are inherently uncertain and outside of the Company’s control. It is possible that the Company’s actual results and financial condition may differ, possibly materially, from the anticipated results and financial condition indicated in these forward-looking statements. Further, information concerning the Company and its business, including factors that potentially could materially affect the Company’s business and financial and other results, are contained in the Company’s filings with the
Protea is a registered trademarks of
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/protea-announces-2016-year-end-results-300440660.html
SOURCE
Prologis Reports First Quarter 2017 Earnings Results
5 Stocks to Watch as Canada Gets Hooked on Cannabis
More Articles