Neoprobe, a developer of oncological surgical devices, has reported an increase in net losses for its second quarter of fiscal 2009, which ended June 30.
As a result of significant non-cash accounting charges in the 2009 second quarter, the company reported a net loss of $15.2 million compared with a net loss of $1 million for the second quarter in 2008. Neoprobe said its loss from operations for this year’s second quarter was $928,000 compared with $454,000 for the previous year’s second quarter.
The Dublin, Ohio-based Neoprobe said its 2009 second quarter revenues were $1.8 million compared with $2.3 million for the second quarter of 2008. The company’s second quarter 2009 operating expenses were $2.2 million compared with $1.8 million for the second quarter of 2008.
Brent Larson, Neoprobe’s vice president of finance and chief financial officer, attributed any gains to its gamma device business.