Key Developments For China Medical Technologies, Inc.
China Medical Technologies, Inc. (CMED.O) (Nasdaq)
China Medical Technologies, Inc. Issues Q3 2009 Outlook
China Medical Technologies, Inc. announced that for the third quarter of 2009, it expects target revenues to be in the range of RMB170.0 million (USD24.9 million) to RMB180.0 million (USD26.4 million). The Company also estimates the target non-GAAP income from continuing operations for third quarter of 2009 to be not less than RMB38.0 million (USD5.6 million).
China Medical Technologies, Inc. Receives SFDA Approval For Leukemia BCR/ABL Fusion Gene Detection FISH Probe
China Medical Technologies, Inc. announced that it has received approval for its Leukemia BCR/ABL fusion gene detection FISH Probe (the Leukemia BCR/ABL FISH Probe) from the State Food and Drug Administration of China (the SFDA). The Leukemia BCR/ABL FISH Probe is a molecular diagnostic test kit that uses DNA probes for accurate detection of Philadelphia translocation, which is a specific chromosomal abnormality associated with chronic myelogenous leukemia (CML), acute lymphoblastic leukemia (ALL) and acute myelogenous leukemia (AML).
China Medical Technologies, Inc. Announces SFDA Approval For SPR System
China Medical Technologies, Inc. announced that it has received approval for its SPR- based analysis system (the SPR System) from the State Food and Drug Administration of China (the SFDA). The SPR System utilizes Surface Plasmon Resonance (SPR) technology, a biosensor technology in molecular biology.
China Medical Technologies, Inc. Adjusts Conversion Rates of USD150 Million Convertible Notes and USD276 Million Convertible Notes
China Medical Technologies, Inc. announced adjustments to conversion rates of the Company's USD150 million outstanding 3.5% Convertible Senior Subordinated Notes due November 2011 (the USD150 million Convertible Notes) and the Company's USD276 million outstanding 4.0% Convertible Senior Notes due August 2013 (the USD276 million Convertible Notes). The adjustments are required, in accordance with the terms of the respective indentures governing the USD150 million Convertible Notes and USD276 million Convertible Notes, as a result of the Company's declaration of cash dividend of USD0.055 per ordinary share, equivalent to USD0.55 per ADS for the fiscal year ended March 31, 2009. USD150 million Convertible Notes Conversion rate of the USD150 million Convertible Notes is adjusted from 31.7378 American Depositary Shares (ADSs) to 32.8322 ADSs for each USD1,000 original principal amount of the USD150 million Convertible Notes with reference to the closing market price of the Company's ADSs on September 29, 2009. Conversion rate of the USD276 million Convertible Notes is adjusted from 17.0068 ADSs to 17.5899 ADSs for each USD1,000 original principal amount of the USD276 million Convertible Notes with reference to the average closing market price of the Company's ADSs over a 10 consecutive trading day period from September 14, 2009 to September 25, 2009.
China Medical Technologies, Inc. Announces $30 Million Share Repurchase Program
China Medical Technologies, Inc. announced that its Board of Directors HAS approved a share repurchase program on September 17, 2009. The Board has authorized the Company to repurchase up to $30 million worth of its outstanding American Depositary Shares (ADSs) for a period of one year, commencing on October 1, 2009.
