DiagnoCure announces first quarter 2013 results

               DiagnoCure announces first quarter 2013 results

PR Newswire

QUEBEC CITY, March 11, 2013

QUEBEC CITY, March 11, 2013 /PRNewswire/  - DiagnoCure, Inc. (TSX: CUR)  today 
reported financial and operational  results for the  first quarter 2013  ended 
January 31, 2013. The  Corporation announced a net  loss of $788,237 or  $0.02 
per share  for this  quarter. At  the  end of  the quarter,  cash,  short-term 
investments and long-term investments stood at $5,205,536.

Recent Highlights

The arrival during  the quarter of  two new directors  on DiagnoCure's  Board, 
Dr.JacquesSimoneau,  President  and  CEO   of  Gestion  Univalor  L.P.   and 
Mr.AndySheldon,  President  and  CEO  of  Medicagoinc.,  has  provided  new 
momentum  to  the  Corporation,  bringing  additional  positive  outlooks   on 
DiagnoCure's future.

On January  11,  2013, DiagnoCure  reached  mutually agreeable  terms  on  the 
release of  Previstage  GCC  from  Signal Genetics.  The  Corporation  is  now 
actively seeking to license the technology  to a new partner with  significant 
commercial presence  in  the  diagnostics  market.  DiagnoCure  believes  that 
Previstage™ GCC represents a significant advance in providing physicians  with 
a more sensitive tool for staging patients with colorectal cancer.

Close to a year after  the approval of the PROGENSA^®  PCA3 assay by the  FDA, 
royalties received from sales in the United States increased by 84% during the
quarter compared to  the same period  of 2012. While  it is too  soon to  draw 
conclusions regarding growth of PCA3 revenues, the observed increase  provides 
a basis for being optimistic that we may be seeing the beginning of a positive
trend in the United States.

Results of the First Quarter 2013

Total revenues  for the  first quarter  of 2013  were $167,916  compared  with 
$556,158  for  the  same  period  of  2012.  This  decrease  of  $388,242   is 
attributable to the January 11th  termination of that development and  license 
agreements signed in June 2011 with Signal Genetics. The development agreement
provided $268,567 of  revenues in  the first  quarter of  2012. The  remaining 
decrease is attributable to the last payment made by Gen-Probe in relation  to 
the FDA milestone reached  for PROGENSA^® PCA3 in  the first quarter of  2012. 
The Q1 2012 revenues related to the FDA milestone were $123,800. In the  first 
quarter of 2013, royalty revenues from Hologic Gen-Probe increased by $22,904,
or 16%, to $167,916, from $145,012 for the same period of 2012. This  increase 
is attributable to an increase of 84% in U.S. royalty revenues as compared  to 
the same period  in 2012, offset  by a decrease  in European royalty  revenues 
continuing to reflect a general softness in the European markets.

Operating expenses  decreased by  $422,709, to  $956,153 for  the first  three 
months of 2013 from $1,378,862 for the  same period of 2012. This decrease  is 
mainly attributable to the termination of the development agreement  performed 
in Q1 2012 in support to the Previstage^TM GCC Colorectal Cancer Staging Test.

Financial Data

                                           For the three months periods ended
                                                        January 31
                                                  2013              2012
                                                           $                $
Research collaboration revenues                             —          268,567
License and royalty revenues                          167,916          287,591
Total revenues                                        167,916          556,158
Operating expenses (before stock-based
compensation, depreciation and
amortization)                                         698,116        1,081,923
Net loss (before stock-based compensation,
depreciation and amortization)                      (530,200)        (525,765)
Stock-based compensation                               38,682           49,188
Depreciation of property, plant and
equipment                                              19,834           32,210
Amortization of intangible asset                      199,521          215,541
Net loss and comprehensive loss                     (788,237)        (822,704)
Basic and diluted net loss per share                   (0.02)           (0.02)
Weighted average number of common shares
outstanding                                        43,040,471       43,013,471

Consolidated Balance Sheets

                                            January 31, 2013 October 31, 2012
Cash, cash equivalents, temporary and               5,205,536        5,824,771
long-term investments
Total assets                                       10,458,890       11,256,369
Shareholders' equity                                9,698,532       10,448,087
Number of shares outstanding                       43,040,471       43,040,471

Conference call

DiagnoCure's management will  host a  conference call  at 4:30  p.m. (EDT)  on 
March 11, 2013.  Interested participants  may listen  to the  call by  dialing 
1-888-231-8191 or 514-807-9895 and referencing code 11472852 approximately  15 
minutes prior to the call. The Corporation will also provide a live webcast of
the call.  Interested  participants may  access  the webcast  on  DiagnoCure's 
website  at  www.diagnocure.com,  through  a  link  on  the  Investors  page- 
Presentations. A  replay of  the  webcast will  be available  on  DiagnoCure's 
website for those unable to participate in the live webcast.

About DiagnoCure

DiagnoCure (TSX:  CUR)  is  a  life sciences  corporation  that  develops  and 
commercializes high-value cancer diagnostic tests that increase clinician  and 
patient confidence  in  making  critical treatment  decisions.  In  2008,  the 
Corporation launched a colorectal  cancer staging test  through its U.S.  CLIA 
laboratory.  Previstage^TMGCC  is  currently  available  for  licensing.  The 
Corporation has granted a worldwide exclusive license agreement to  Gen-Probe, 
now a  wholly-owned subsidiary  of Hologic  Inc. (NASDAQ:  HOLX) operating  as 
Hologic Gen-Probe, for  the development  and commercialization  of a  prostate 
cancer test using PCA3, DiagnoCure's proprietary molecular biomarker.  Hologic 
Gen-Probe's PROGENSA^® PCA3 test is commercialized in Europe under CE mark and
is approved for commercialization  in Canada and the  United States. For  more 
information, visit www.diagnocure.com.

Forward‐looking statements

This release  contains  forward‐looking  statements  that  involve  known  and 
unknown risks, uncertainties and assumptions that may cause actual results  to 
differ materially from those expected.  By their very nature,  forward‐looking 
statements are based on expectations and hypotheses and also involve risks and
uncertainties, known  and  unknown,  many of  which  are  beyond  DiagnoCure's 
control. As a result, investors are  cautioned not to place undue reliance  on 
these forward‐looking statements. The forward-looking statements regarding the
outcome of  research and  development projects,  clinical studies  and  future 
revenues are  based on  management expectations.  In addition,  the reader  is 
referred to  the  applicable  general risks  and  uncertainties  described  in 
DiagnoCure's most  recent  Annual Information  Form  under the  heading  "Risk 
Factors". DiagnoCure undertakes no obligation to publicly update or revise any
forward‐looking statements contained herein unless required by the  applicable 
securities laws and regulations.

SOURCE DiagnoCure inc.


DiagnoCure Inc.
Chantal Miklosi
Chief Financial Officer
(418) 527-6100

DiagnoCure Inc.
Geneviève Couture
Coordinator, Administration and Communications
(418) 527-6100
Press spacebar to pause and continue. Press esc to stop.