The Company continues to invest in research and development activities to bring additional treatments to market utilizing its existing technology. The Company's continued investment in studies focusing on Cesium (Cs-131) efficacy for various cancers located throughout the body is expected to have a direct impact on the growth of a growing array of non-prostate treatments. The increase in the size of the sales organization in the last twelve months has created an enhanced means to contact more facilities than ever before with new and novel treatment alternatives.
IsoRay, Inc. and SubsidiariesConsolidated Statements of Operations(Unaudited) For the three months ended September 30, 2012 2011 ------------ ------------Product sales $ 1,056,232 $ 1,213,417Cost of product sales 1,076,657 1,147,075 ------------ ------------ Gross profit / (loss) (20,425) 66,342 ------------ ------------Operating expenses: Research and development expenses 141,472 251,314 Research and development reimbursement - (50,000) Sales and marketing expenses 316,056 314,418 General and administrative expenses 644,853 652,927 ------------ ------------ Total operating expenses 1,102,381 1,168,659 ------------ ------------ Operating loss (1,122,806) (1,102,317) ------------ ------------Non-operating income (expense): Interest income 144 187 Change in fair value of warrant derivative liability 129,000 - Financing and interest expense (6) (94) ------------ ------------ Non-operating income /(loss), net 129,138 93 ------------ ------------ Net loss (993,668) (1,102,224) ------------ ------------ Preferred stock dividends (2,658) (2,658) Net loss applicable to common shareholders $ (996,326) $ (1,104,882) ============ ============Basic and diluted loss per share $ (0.03) $ (0.04) ============ ============Weighted average shares used in computing net loss per share:Basic and diluted 33,866,563 26,487,140 ============ ============
About IsoRay
IsoRay, Inc., through its subsidiary, IsoRay Medical, Inc. is the sole producer of Cesium-131 brachytherapy seeds, which is expanding brachytherapy options throughout the body. Learn more about this innovative Richland, Washington company and explore the many benefits and uses of GliaSite® and Cesium-131 by visiting www.isoray.com. Join us on Facebook/Isoray. Follow us on Twitter@Isoray.
Safe Harbor Statement
Statements in this news release about IsoRay's future expectations, including: the advantages of our Cesium-131 seed, future demand for IsoRay's existing and planned products, whether revenue and other financial metrics will improve in future periods, whether IsoRay will be able to continue to expand its base beyond prostate cancer, whether IsoRay will be able to generate sales of Gliasite in the U.S. and in Europe, the advantages of the Gliasite delivery system, whether additional studies will be published with favorable outcomes from treatment with Cesium-131, and all other statements in this release, other than historical facts, are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 ("PSLRA"). This statement is included for the express purpose of availing IsoRay, Inc. of the protections of the safe harbor provisions of the PSLRA. It is important to note that actual results and ultimate corporate actions could differ materially from those in such forward-looking statements based on such factors as physician acceptance, training and use of IsoRay's products, changing levels of demand for IsoRay's current and proposed future products, IsoRay's ability to reduce or maintain expenses while increasing sales, whether later studies and protocols support the findings of the initial studies, success of future research and development activities, patient results achieved when Cesium-131 is used for the treatment of cancers and malignant diseases beyond prostate cancer, IsoRay's ability to successfully manufacture, market and sell its products, whether IsoRay will receive all required state and foreign regulatory approvals for the Gliasite delivery system, IsoRay's ability to manufacture its products in sufficient quantities to meet demand within required delivery time periods while meeting its quality control standards, IsoRay's ability to enforce its intellectual property rights, changes in reimbursement rates, changes in laws and regulations applicable to our product, and other risks detailed from time to time in IsoRay's reports filed with the SEC.
Contact:
Worldwide Financial
(954) 360-9998
Info@wwfinancial.com
