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)
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.