December 23, 1998 |
The Nasdaq stock market plans to delist the shares of Pacific Biometrics Inc. on Monday, saying the price has fallen below $1 a share and that the medical company's net worth no longer meets its listing requirements The Lake Forest company is developing methods for early detection and management of osteoporosis and diabetes, but has suffered a string of losses. A delisting from Nasdaq would make it harder for the company to raise new capital to continue.
September 29, 1998
Pacific Biometrics Inc., Lake Forest developer of diagnostics and laboratory services to detect chronic diseases, reported that its losses widened in the fourth fiscal quarter as revenue declined 50%. The company posted a net loss of $1.7 million, or 47 cents a share, for the three months ended June 30, compared with a net loss of $307,188, or 8 cents a share, for the like period in fiscal 1997. Revenue dropped to $453,615 from $914,797.
August 11, 1998 |
Pacific Biometrics Inc. said Monday it has hired Grant Thornton as its auditor, replacing another firm that resigned after the Irvine biomedical outfit recently restated its earnings. The tiny company, which develops methods to diagnose and manage chronic diseases, also said it has retained a New York investment banker to help it raise as much as $5 million in private capital and look for a partner. The investment banker, R&R Capital Group Inc.
June 30, 1998 |
Pacific Biometrics Inc. said Monday its auditor, Coopers & Lybrand LLP, resigned after the Irvine developer of diagnostic and laboratory services restated its loss for a recent quarter on the auditor's advice. In a news release in early May, the company initially said it posted a loss of $1.1 million, or 62 cents a share, for its third quarter, ended March 31. Later last month, the company reported a wider loss of $1.3 million, or 88 cents, for the period.
May 20, 1998 |
Pacific Biometrics restated its third-quarter loss to $1.3 million, or 88 cents a share, from the loss of $1.1 million, or 62 cents, that the Irvine company reported May 11. Pacific, which develops diagnostic tests and laboratory services for chronic diseases, also amended its loss for the nine-months ended March 31 to $1.30 a share, from a loss of $1.04 a share reported earlier.
May 12, 1998
Pacific Biometrics Inc., Irvine developer of diagnostics and laboratory services for chronic diseases, posted a third-quarter net loss of $1.1 million, or 62 cents a share, compared with a net loss of $439,026, or 12 cents a share, for the like period last year. Sales for the quarter ended March 31 declined 14% to $558,000 from $649,000. The company attributed the drop to the conclusion of two laboratory studies that were not fully replaced. For the nine months, the company posted a loss of $2.