Pancretec Inc

A Newport Beach businessman and two associates agreed Wednesday to pay more than $75,000 in penalties and profit forfeitures to settle federal charges of insider stock trading relating to the acquisition of San Diego-based Pancretec by Abbott Laboratories last year. Former Pancretec director Richard W. Dutrisac, John E. McCullough Sr. of Arlington, Va., and his son, John E. McCullough Jr.

A Newport Beach businessman and two associates agreed Wednesday to pay more than $75,000 in penalties and profit forfeitures to settle federal charges of insider stock trading relating to the acquisition of San Diego-based Pancretec by Abbott Laboratories last year. Former Pancretec director Richard W. Dutrisac, John E. McCullough Sr. of Arlington, Va., and his son, John E. McCullough Jr.

Pancretec Inc. reported a $338,000 net loss and $414,504 in revenues for the second quarter ended Dec. 31. Last year the company reported a $356,055 net loss and $20,139 in revenues. Pancretec reported a $721,623 net loss and $878,000 in revenues for the first half compared to a net loss of $893,323 and revenues of $414,504 a year earlier. "Ongoing cost-reduction efforts and an emphasis in sales and marketing efforts" led to the sales increase and reduced loss, according to Richard W.

Pancretec Inc. reported a $338,000 net loss and $414,504 in revenues for the second quarter ended Dec. 31. Last year the company reported a $356,055 net loss and $20,139 in revenues. Pancretec reported a $721,623 net loss and $878,000 in revenues for the first half compared to a net loss of $893,323 and revenues of $414,504 a year earlier. "Ongoing cost-reduction efforts and an emphasis in sales and marketing efforts" led to the sales increase and reduced loss, according to Richard W.

Pancretec Inc. has reported increased second-quarter sales and an urgently needed $700,000 cash infusion from a local venture capital firm, Ventana Growth Fund. But losses continue at the medical supply company, which, despite the investment, still has a negative net worth. A manufacturer of ambulatory drug delivery systems, Pancretec reported a net loss of $161,528, or 9 cents per share, on revenue of $755,000 over the three months ended Dec. 31.

Six months ago, Pancretec Inc.'s days appeared numbered. The 4-year-old medical supply company was virtually out of cash, had just hired its third chief executive in seven months, and, after an unbroken string of quarterly losses totaling $5.5 million, seemed unable to turn a profit. Today, Pancretec may be on the road to recovery. Second-quarter sales were double those of the previous year and prospects for continued growth have improved, in part because of the spreading AIDS epidemic.

Tiny bubbles provided a big payoff for investors in Molecular Biosystems, the leader on The Times' list of top stock performers for San Diego County. Microscopic bubbles called "microspheres" are the basis of the company's new ultrasound imaging agent that may be the first to enable cardiologists to see real-time images of blood flowing through the heart.