Message #9 From:
Stock News Bot Date: August 16, 2005 02:00:00 AM
GTHA News GeneThera Posts Narrowed Quarterly Loss for Period Ended June 30, 2005
WHEAT RIDGE, Colo.--(BUSINESS WIRE)--Aug. 16, 2005--GeneThera, Inc. (OTCBB:GTHA) announced today that it has narrowed its second quarter loss to $0.02 per share from prior year loss of $.70 per share.
The molecular biotechnology company reported a loss of $316,900, or 2 cents a share, for the three-month period ended June 30. That compares with a $3,989,000 net loss, or 70 cents a share in the year-earlier period, GeneThera said in a statement.
Steven M. Grubner, GeneThera CFO said, "We are extremely pleased to have narrowed our quarterly loss to under 2 cents per share. Our use of internal resources and personnel instead of outside consultants has had a tremendous impact on our bottom line. Having proper funding in place since the start of 2005 has also allowed us to control our costs through smarter use of both our cash and our equity capital."
Grubner added, "With the announcement in July that GeneThera has executed revenue-producing contracts with Xpention Genetics, Inc. (OTCBB:XPNG) for our R&D Services, we are hopeful that other contracts with similar companies can be executed and revenue growth and profitability can be achieved."
ABOUT GENETHERA:
GeneThera, Inc. is a molecular biotechnology company located in Wheat Ridge, CO. The Company provides genetic diagnostic solutions for the veterinary and agricultural industries with future plans to include the health-care industry. The Company's proprietary diagnostic solution is based on a genetic expression assay, GEA(TM), a protocol designed to function on a highly automated Fluorogenic PCR platform. This platform enables GeneThera to offer tests that are presently not available from other technologies. The GEA is designed for a host of individual diseases, the current priority being Mad Cow Disease, a disease affecting cattle worldwide and Chronic Wasting Disease, a disease affecting elk and deer in North America.
GeneThera's PURIVAX(TM) is a revolutionary system that dramatically improves biological purity and viral titer of recombinant Adenovirus and AAV vectors. PURIVAX(TM) completely eliminates toxic side effects associated with adenoviruses and AAV vectors making it possible to develop highly immunogenic and safe recombinant DNA vaccines.
"Safe Harbor" Statement: Certain statements in this release are "forward-looking" statements as defined in the Private Securities Litigation Reform Act of 1995. Such statements are subject to numerous risks and uncertainties. Actual results may vary significantly from the results expressed or implied in such statements. Factors that could cause actual results to materially differ from forward-looking statements include, but are not limited to, the Company's ability to meet the terms and conditions required to obtain its project financing, risks and delays associated with product development, risk of market acceptance of new products, risk of technology or product obsolescence, competitive risks, reliance on development partners and the need for additional capital.
