Life Therapeutics aims for Nasdaq
Tuesday, 22 June, 2004
Life Therapeutics -- formerly known as Gradipore (ASX:GDP) -- is aiming toestablish a Level 1 American Depository Receipt (ADR) program, in readiness for a Nasdaq.
“A US listing has become a logical extension of the recent Life Sera acquisition” said managing director Dr Hari Nair. “Life Therapeutics now has 160 of its 200 employees based in the US and over 70 per cent of its revenues are now derived from the US.”
Earlier this week, Life Therapeutics forecast overall profit for the company in 2006 of AUD$4.5 million. Gazing even further into the future, the company predicts sales in 2007 of $69 million, and a profit of $13 million.
"We're projecting a loss of around $10 million this year," said Nair. "I expect that we would make a loss of about $2 million in 2005, but by 2006 we should be well in the black."
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