Therapy Areas: Devices
BIONIK Laboratories announces lower comprehensive loss of USD3.38m in Q2 fiscal 2020
18 November 2019 -

Neurological robotics company BIONIK Laboratories Corp (OTCQB:BNKL) reported on Friday its comprehensive loss of USD3.38m ( loss per share of USD0.87) for the second quarter of fiscal year 2020 ended 30 September 2019.

This marks a rise in earnings when compared with a higher comprehensive loss of USD3.98m (USD1.62 loss per share) for the quarter ended 30 September 2018.

Sales of USD281,691 were recorded for the quarter ended 30 September 2019, down over sales of USD547,085 for the quarter ended September 30, 2018. The company said the decrease in sales reflects the sale of two InMotion robots during the second quarter of fiscal 2020, including one ARM/HAND robotic device, from seven InMotion ARM robotic devices in the prior-year quarter.

Gross margin for the quarter ended 30 September 2019 was 70.5%, up versus 27.8% for the quarter ended 30 September 2018, which is due to economies of scale deriving from higher volume outsourced manufacturing of the company's robots.

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