(By Balaseshan) BSD Medical Corp. (NASDAQ: BSDM), which manufactures medical systems that utilize heat therapy to treat cancer, announced the sale of its MicroThermX Microwave Ablation Systems to Turkish medical distributor ADA Medikal.
Financial details of the sale were not disclosed.
The company has sold multiple MicroThermX Microwave Ablation systems and antennas to ADA Medikal as part of their distribution agreement signed in October 2012.
According to the companies, Turkey is an important international market with a population of more than 73 million and the world's 15th largest economy. ADA projects that they will need to order a significant number of systems to address the market for the MicroThermX in Turkey.
[Related -BSD Medical (BSDM): ADA Medikal to Sell Microthermx Microwave Ablation Products in Turkey]
On January 10, BSD reported a first quarter net loss of $2.22 million. Total revenue of $659,785 was essentially level with last year, due primarily to a decrease in sales associated with our hyperthermia systems when comparing the two quarters.
On January 7, the company said Horizon Medical Services in Tamarac, Florida has purchased a BSD-500 Hyperthermia System (BSD-500). The purchase by Horizon increases the number of patients who will have access to innovative hyperthermia treatment. This sale is further evidence of the growing use of hyperthermia therapy in Florida and in the U.S.
BSDM is trading up 7.01% at $1.68 on Monday. The stock has been trading between $0.76 and $2.52 for the past 52 weeks.