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Pacific Biometrics Inc

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BUSINESS
March 30, 1999
The Nasdaq market delisted Pacific Biometrics Inc.'s stock Monday after determining that the Lake Forest medical company failed to meet listing standards. The company said the stock may trade over-the-counter, but that the delisting may make it more difficult to raise additional capital. Pacific Biometrics is developing methods for early detection and management of osteoporosis and diabetes.
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BUSINESS
March 30, 1999
The Nasdaq market delisted Pacific Biometrics Inc.'s stock Monday after determining that the Lake Forest medical company failed to meet listing standards. The company said the stock may trade over-the-counter, but that the delisting may make it more difficult to raise additional capital. Pacific Biometrics is developing methods for early detection and management of osteoporosis and diabetes.
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BUSINESS
November 1, 1996
Pacific Biometrics Inc. said its initial public offering of 1.7 million units was priced at $4.75 a unit, generating about $8.1 million for the company, which develops diagnostic and laboratory products in the fields of cardiovascular disease and osteoporosis. The units consist of one share of common stock and one warrant, which are separated as the units are issued.
BUSINESS
February 24, 1999
Pacific Biometrics Inc.: The Lake Forest company, engaged in diagnostics and laboratory services to detect and manage chronic diseases, reported a net loss of $966,998, or 28 cents a share, for the second quarter ended Dec. 31, compared with a loss of $941,055, or 25 cents a share, for the same period last year. Revenue fell to $329,274 from $871,290. The company said two laboratory contracts ended during the first half of the fiscal year and have not been fully replaced.
BUSINESS
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.
BUSINESS
January 7, 1998 | Dow Jones
Pacific Biometrics Inc. said it has acquired the rights to Sudormed Inc.'s skin patch technology for $3 million. Pacific Biometrics said Tuesday that it will pay Sudormed over a 15-month period. Under the agreement, Pacific Biometrics also agreed to make an ongoing royalty payment based on the sales of products developed from the technology. Pacific Biometrics said the license agreement also allows for all other potential applications, except for those relating to alcohol and drug abuse.
BUSINESS
August 11, 1998 | BARBARA MARSH, TIMES STAFF WRITER
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.
BUSINESS
February 24, 1999
Pacific Biometrics Inc.: The Lake Forest company, engaged in diagnostics and laboratory services to detect and manage chronic diseases, reported a net loss of $966,998, or 28 cents a share, for the second quarter ended Dec. 31, compared with a loss of $941,055, or 25 cents a share, for the same period last year. Revenue fell to $329,274 from $871,290. The company said two laboratory contracts ended during the first half of the fiscal year and have not been fully replaced.
BUSINESS
December 23, 1998 | E. Scott Reckard
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.
BUSINESS
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.
BUSINESS
August 11, 1998 | BARBARA MARSH, TIMES STAFF WRITER
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.
BUSINESS
June 30, 1998 | Barbara Marsh
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.
BUSINESS
May 20, 1998 | Dow Jones
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.
BUSINESS
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.
BUSINESS
May 10, 1998 | (Barbara Marsh)
Pacific Biometrics Inc. stock dropped 21%, or 75 cents a share, Friday to close at $3.75 after the company disclosed that regulators may require it to do more tests on its experimental skin patch intended to detect bone deterioration. The Irvine developer of diagnostic tests for osteoporosis and other chronic diseases said it's unlikely that regulators will approve the patch for sale by late September, as the company had hoped. Pacific Biometrics said the U.S.
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