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From DNAPrint.com: |
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LATEST PRESS RELEASE: |
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May 30, 2006
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SARASOTA, FL -- May 30, 2006 -- DNAPrint Genomics, Inc. (OTC BB:DNAG.OB - News) President and Chief Executive Officer Richard Gabriel today reported significant progress and heightened activity in all of the Company's business units during the first quarter ended March 31, 2006.
"Our DNAPrint Pharmaceuticals, Inc. subsidiary continued to move forward with the development of PT-401, a 'Super EPO' (erythropoietin) dimer protein drug for treatment of anemia in renal dialysis patients, the Company's first drug, and we experienced a considerable revenue increase in our genotyping services and legacy ancestry business with our ANCESTRYbyDNA(TM) product," Mr. Gabriel stated. Revenues in the first quarter of 2006 increased 181% to $678,000, compared with $241,000 in the corresponding period a year ago. Most of the increase was attributable to the Company's ANCESTRYbyDNA products and the Company's genotyping services. "Our newly acquired Canadian subsidiary, Ellipsis Biotherapeutics, contributed $227,000 in genotyping revenues," Mr. Gabriel said. "Also, ANCESTRYbyDNA received coverage in many national media outlets, which increased interest in our technology. Although growth in the current second quarter is not continuing at the same high first-quarter rate for our genotyping services, we anticipate that ANCESTRYbyDNA will continue to be a popular product for the remainder of 2006 and beyond." There is also growing awareness of the Company's forensics technology, Mr. Gabriel said. DNAWITNESS(TM) was the subject of a workshop in February 2006 at the annual meeting of the prestigious American Academy of Forensic Science in Seattle and is being utilized in 109 criminal investigations around the world. Looking toward the future, Mr. Gabriel noted that research and development expenses in the first quarter of 2006 were approximately $2.0 million compared with $302,000 in the corresponding year-ago period. "A major component of the Company's business strategy is investing significant financial resources in DNAPrint Pharmaceuticals and the development of new drugs," he said. "'Theranostic' test/drug combinations based on a patient's genetic constitution are designed to increase efficacy and reduce side effects and are at the forefront of a new era in pharmaceuticals. We are vigorously pursuing development with pharmcogenomic products," Mr. Gabriel added. "We believe that significant investments in pharmacogenomics research and development is a key to long-term success for our Company."
DNAPrint Genomics, Inc. (www.dnaprint.com) is a developer of genomics-based products and services in two primary markets: biomedical and forensics. DNAPrint Pharmaceuticals, Inc., a wholly owned subsidiary, develops diagnostic tests and theranostic products (drug/test combinations) using the Company's proprietary ancestry-informed genetic marker studies combined with proprietary computational modeling technology. Computational Biology and Pharmacogenomics services are also offered externally to biopharmaceutical companies. The Company's first theranostic product is PT-401, a "Super EPO" (erythropoietin) dimer protein drug for treatment of anemia in renal dialysis patients (with end stage renal disease). Preclinical and clinical development of all the Company's drug candidates will benefit from simulated pre-trials to design actual trials better and are targeted to patients with genetic profiles indicating their propensity to have the best clinical responses. DNAPrint is proud of its continued dedication to developing and supplying new technological advances in law enforcement and consumer ancestry heritage interests. Please refer to www.dnaprint.com for information on law enforcement and consumer applications which include DNAWITNESSTM, RETINOMETM, ANCESTRYbyDNATM and EURO-DNATM. DNAWitness-Y and DNAWitness-Mito are two tests offered by the Company. The results from these tests may be used as identification tools when a DNA sample is deteriorated or compromised or other DNA testing fails to yield acceptable results.
All statements in this press release that are not historical are forward-looking statements. Such statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected, including, but not limited to, uncertainties relating to technologies, product development, manufacturing, market acceptance, cost and pricing of DNAPrint's products, dependence on collaborations and partners, regulatory approvals, competition, intellectual property of others, and patent protection and litigation. DNAPrint Genomics, Inc. expressly disclaims any obligation or undertaking, except as may be required by applicable law or regulation to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in DNAPrint's expectations with regard thereto or any change in events, conditions, or circumstances on which any such statements are based. |
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