IsoRay shows Q1 slump

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Medical isotope developer IsoRay showed a downturn in sales and profit for the Richland, Wash.-based firm's fiscal 2010 first quarter, which ended Sept. 30.

For the period, the company posted revenues of $1.3 million, a nine percent downturn compared with revenues of $1.5 million booked in the first quarter of fiscal 2009. IsoRay showed a net loss of $906,708 for the quarter, a 49 percent decrease compared with a net profit of $1.6 million from the same quarter last year.

The firm attributed the sales slump to a lower average invoice price as a result of changes in seed loading configurations being ordered by customers. In addition, IsoRay said that fewer cesium (Cs)-131 seeds are being used as physicians have become more comfortable with the increased energy of the product.

The company noted that 50 medical centers ordered its Proxcelan seed in the first quarter. IsoRay said it has commenced shipping seeds for brachytherapy in other disease sites including the lungs, head and neck and ocular melanomas.