SOURCE: SpectraScience, Inc.

June 27, 2013 09:00 ET

SpectraScience Announces Q2 2013 Revenue

SAN DIEGO, CA--(Marketwired - Jun 27, 2013) - SpectraScience, Inc. (OTCQB: SCIE), a San Diego-based medical device company, today announced it expects to recognize revenue of approximately $120,000 for its second quarter ending June 30, 2013.

The Company continues to actively market the WavSTAT4 Optical Biopsy System in Europe, the Middle East and Africa through its sales, marketing and distribution partner, PENTAX Europe GmbH. The first application of the technology is for the diagnosis of small polyps and lesions during routine screening colonoscopies for colorectal cancer. Sales of the WavSTAT4 Optical Biopsy System consoles to PENTAX represent the bulk of the revenue. 

"It's gratifying to see the market begin to recognize the clinical and cost advantages WavSTAT brings to the diagnosis of colorectal cancer," said SpectraScience CEO Michael Oliver. "Now that we've demonstrated the clinical efficacy of the system through Professor Neumann's study, released last month at Digestive Disease Week (DDW), we find customers more willing to embrace the concept of in vivo histology. We believe this will lay the groundwork to change the standard of care across Europe and our other markets."

About SpectraScience, Inc.

SpectraScience is a San Diego based medical device company that designs, develops, manufactures and markets light-based analysis systems capable of determining whether tissue is normal, pre-cancerous or cancerous without physically removing tissue from the body. The WavSTAT Optical Biopsy System uses light to optically diagnose tissue and provide the physician with an immediate analysis. With approval for sale under the CE Mark for the European Union, the WavSTAT System is the first commercially available product that incorporates this innovative technology for clinical use.

Contact Information

  • Contact:

    SpectraScience, Inc.
    Jim Dorst
    Chief Financial Officer
    Email Contact
    (858) 405-9933