Synsorb sees 2000 net losses halve and revenues rise 118%

For the year ended December 2000, Canada's Synsorb reported revenues ofC$1.5 million ($977,700), a 118% rise on the previous year, while its net loss was reduced to C$7.9 million, or C$0.20 per share, compared with C$15.1 million, or C$0.55 per share in 1999. The fall in losses are the result of a gain on the dilution of Oncolytics Biotech, in which it has a 39% stake, reduced R&D and the sale in the first quarter of INH Technologies.

Looking to 2001, the company says its interim analysis for Synsorb Cd (a potential treatment for Clostridium difficile-associated diarrhea, now in Phase III trials) is expected to be performed this year. Synsorb adds that it will continue to engage with organizations that are potential candidates as sales, marketing and distribution partners for Synsorb Cd, and expects to announce its licensing and commercialization strategy during 2001.