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Akers Biosciences plummets as interim loss widens

Tue, 18th Aug 2015 11:28

(ShareCast News) - Akers Biosciences plummeted after the medical device company said its pre-tax loss widened in the first half as revenue declined.Akers posted a pre-tax loss of $3.41m for the six months ended 30 June, wider than the $1.1m loss in the same period last year. This included a one-time reserve of $864,000 for a past due receivable.Total revenue came to $1.48m for the period, down 42% from the first half of 2014 and the company attributed the decline to an initial stocking order for Tri-Cholesterol "check" tests in the first half of last year that was not repeated this year.It also noted the impact on sales of its BreathScan breathalyser products after the French government decided to indefinitely postpone a fine that was to be imposed on drivers failing to possess breathalysers in their vehicles.The company said it was beginning to see increased demand for its alcohol breathalyser, mainly from the EU, with $209,805 shipped in the first half and a larger pipeline of orders through the remainder of the year.Akers Bioscences the benefits of the newly-expanded sales team were being felt, with domestic sales of its flagship product up 44% compared with the first half of 2014.Co-founder and executive chairman Raymond F. Akers said: "While we have good revenue visibility through the remainder of the year in our core business, the company's ability to meet full revenue expectations for the year remains partially dependent on the timing of large stocking orders from international distributors like those in China, which are influenced by external factors such as regulatory approvals."We are confident that such orders will materialize but there can be no certainty over their timing. We also expect to see initial revenue contributions this year from our Akers Wellness line as these transformative products establish their place in the market."At 1140 BST, Akers shares were down 17.6% at 212.21p.

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8 Oct 2018 13:10

Akers Biosciences appoints chief executive after settling legal battle

(Sharecast News) - Akers Biosciences appointed Howard Yeaton as chief executive on Monday as the company reached a settlement in its legal dispute with Pulse Health.

15 Aug 2018 08:04

Akers Biosciences profits hit over antigen difficulties

(Sharecast News) - Akers Biosciences' losses burgeoned as second-quarter revenues were cut in half after softer sales of its flagship Heparin rapid assay products had offset a stronger showing in its breathalyser unit.

3 Apr 2018 13:45

Akers Biosciences 2017 Revenue Rises But Loss Widens On Higher Costs

LONDON (Alliance News) - Akers Biosciences Inc on Tuesday said revenue grew in 2017, but its loss widened due to increased costs across the business.The AIM-listed firm

16 Mar 2018 18:11

Akers Biosciences Nets USD49,000 From Warrants Exercise (ALLISS)

LONDON (Alliance News) - Akers Biosciences Inc, a developer of health screening and testing products, said Friday that it has netted USD48,750 from warrants to

16 Feb 2017 08:44

Akers Biosciences gains US patent for disposable cartridge

(ShareCast News) - Akers Biosciences, a developer of rapid health information technologies, has been granted a US patent for its wellness disposable markers. The US Patent and Trademark Office has given a patent for its proprietary cartridge for the optical scanning device used in the company's Brea

10 Jan 2017 12:06

Akers Biosciences to raise $2m in US placing

(ShareCast News) - Rapid diagnostic test manufacturer Akers Biosciences said it plans to issue $2m of new shares plus warrants over another $1m worth of shares. The AIM- and Nasdaq-listed outfit said funds will be used for working capital as well as to accelerate growth in the US and in internationa

19 Dec 2016 14:52

Akers Biosciences signs three year deal with US hospital group

(ShareCast News) - Rapid health information technology developer Akers Biosciences announced on Friday it has signed a three-year agreement with the Greater New York Hospital Association to introduce its flagship rapid tests for heparin-induced thrombocytopenia across the association's network of ov

12 Dec 2016 16:03

UK Shareholder Meetings Calendar - Next 7 Days

1 Dec 2016 12:13

Akers Agrees Deal For First Check To Sell Cholesterol Test In US

10 Nov 2016 09:46

Akers Biosciences gains European patent for ketone breath device

(ShareCast News) - Akers Biosciences, a developer of rapid health information technologies, gains a European patent for its ketone acid breath device. The European Patent Office has issued a patent covering the company's breath ketone detector, a breath device to monitor ketone levels, which follows

19 Aug 2016 12:18

Akers Biosciences, ChubeWorkx settle lengthy legal dispute

(ShareCast News) - Akers Biosciences has reached a settlement agreement with former distributor ChubeWorkx Guernsey Ltd, allowing it to recover $1.25m in product and cash and end a lengthy legal dispute between the pair. ChubeWorkx would recover what it was owed from a promissory note by taking deli

18 Aug 2016 07:22

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AKR.L Share News (AKR)

Akers Biosciences plummets as interim loss widens

Akers Biosciences appoints chief executive after settling legal battle

Akers Biosciences profits hit over antigen difficulties

Akers Biosciences 2017 Revenue Rises But Loss Widens On Higher Costs

Akers Biosciences Nets USD49,000 From Warrants Exercise (ALLISS)

Akers Biosciences gains US patent for disposable cartridge

Akers Biosciences to raise $2m in US placing

Akers Biosciences signs three year deal with US hospital group

UK Shareholder Meetings Calendar - Next 7 Days

Akers Agrees Deal For First Check To Sell Cholesterol Test In US

Akers Biosciences gains European patent for ketone breath device

Akers Biosciences, ChubeWorkx settle lengthy legal dispute

Akers Says Test Results "Highly Successful" For BreathScan OxiChek

Akers Says Rapid Chlamydia Test Trial "Highly Successful"

Akers Biosciences Signs First Distribution Deal For BreathScan OxiChek

DIRECTOR DEALINGS: Akers Biosciences Chief Executive Buys First Shares

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