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UPDATE 1-Osmetech posts wider FY loss, assures of funding

Wed Apr 1, 2009 3:31am EDT

Stocks

   

* Revenue up 108 pct

* Says sufficient funding until July '09

* Shares up 4.6 pct in thin trade (Adds details)

April 1 (Reuters) - Diagnostic specialist Osmetech (OMH.L) posted wider pretax loss hurt by higher expenses, but assured of its funding until July 2009.

Pretax loss was 15.3 million pounds, compared with a loss of 12.2 million pounds a year ago.

Revenue almost doubled to 352,000 pounds for the year ended Dec. 31, 2008.

The company said it had sufficient funding to support the business until July 2009 and added that it was evaluating options for further funding.

Shares of the company were up 0.13 pence at 2.875 pence in thin morning trade on Wednesday on the London Stock Exchange. (Reporting by Purwa Naveen Raman in Bangalore; Editing by Gopakumar Warrier)



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