MDS Proteomics Reports Third Quarter 2002 Earnings; Hopes for Partner by Year’s End

In MDS’ third quarter 2002 fiscal year earnings report, released September 19, MDS Proteomics’ revenue and burn rate remained unchanged from the comparable period a year ago. In both periods, MDSP earned $1 million Canadian ($630,000) in revenue, and spent $12 million Canadian ($7.6 million). The impact on MDS’ earnings due MDSP’s cash burn increased from six cents a share from 5 cents a share a year ago.