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AquaBounty Remains Positive Of Future

Salmonids Economics +2 more

AquaBounty Technologies, a biotechnology company focused on enhancing productivity in the aquaculture market, announces its interim results for the six months ended 30 June 2011.

Financial and operational summary:

  • US Food and Drug Administration (FDA) continued to review the Companys application for AquAdvantage Salmon (AAS);
  • A new batch of AAS fry shipped to Panama for grow-out;
  • Net loss of $2.8 million (H1 2010: $2.5 million);
  • Continue to exercise tight control on cash;
  • Cash and marketable securities at 30 June 2011: $3.8 million (30 June 2010: $3.6 million)

FDA Approval:

Commenting on the company's ongoing GM approval with the FDA, Ronald Stotish, Chief Executive Officer of AquaBounty, commented: While the approval process has taken longer than anticipated, we strongly believe that the FDA is moving towards a successful conclusion."

"Equally, the potential market for AquAdvantage Salmon and other biotechnology-based products continues to grow. As a result, we look to the future with confidence and to delivering value to our shareholders.