Last C$0.74 CAD
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response biomedical corp (RBM) Snapshot

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52 Week High
08/13/14 - C$1.89
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12/31/14 - C$0.66
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response biomedical corp (RBM) Details

Response Biomedical Corp. is engaged in the research, development, commercialization, and distribution of diagnostic technologies for the medical central-lab testing, point of care (POC) testing, and on-site environmental testing markets. The POC and on-site diagnostic tests are non-laboratory based tests performed using portable hand-held devices, compact desktop analyzers, single-use test cartridges, and/or dipsticks. It provides RAMP system, which is a portable fluorescence immunoassay-based diagnostic technology that combines the performance of a clinical lab with the convenience of a dipstick test. The company’s RAMP tests are used in the early detection of heart attack, congestive heart failure, influenza A+B, the respiratory syncytial virus, and environmental detection of West Nile Virus; and biodefense applications, including the rapid on-site detection of anthrax, smallpox, ricin, and botulinum toxin. Response Biomedical Corp. sells its products through distributors primarily in China, the United States, Asia, Europe, Canada, and internationally. The company was founded in 1980 and is headquartered in Vancouver, Canada.

65 Employees
Last Reported Date: 03/17/14
Founded in 1980

response biomedical corp (RBM) Top Compensated Officers

Chief Financial Officer and Corporate Secreta...
Total Annual Compensation: C$241.5K
Compensation as of Fiscal Year 2013.

response biomedical corp (RBM) Key Developments

Response Biomedical Corp. Enters into Amendment to Term Loan with Silicon Valley Bank

Response Biomedical Corp. announced that the company has entered into an amendment to its existing loan agreement with the lender under its outstanding term loan, Silicon Valley Bank as of December 15, 2014. Under the terms of the amended loan agreement, SVB has agreed to continue to advance the remaining outstanding principal of USD 1,359,375 for the same term and interest rate, waive its rights in respect of the previously announced breaches of certain financial covenants and to remove any future minimum revenue and liquidity ratio financial covenants. SVB will receive additional warrants and a final payment of up to 4% of the principal advanced. The company continues to be current with all principal and interest payments due on all outstanding indebtedness. Under the terms of the amended loan agreement, interest only payments will be made until April 1, 2015 at which time, 26 equal monthly installments of principal plus accrued interest will be made through to maturity on May 1, 2017. In addition, Response will pay a final payment of up to 4% of the outstanding principal advanced upon repayment. The loan bears an interest rate of Wall Street Journal Prime Rate plus 2.5% annually. Response has provided SVB with 54,905 warrants with an exercise price of USD 1.00 per warrant and a term of 10 years. The loan will be secured by substantially all of the assets of the company.

Response Biomedical Corp. Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014

Response Biomedical Corp. announced unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2014. For the quarter, the company reported adjusted net loss of CAD 2,590,000 against CAD 1,597,000 a year ago. Net loss and comprehensive loss for the period was CAD 1,118,000 against CAD 2,547,000 a year ago. Basic and diluted loss per share was CAD 0.14 against CAD 0.39 a year ago. Adjusted LBITDA was CAD 2,045,000 against CAD 1,034,000 a year ago. For the nine months, the company reported adjusted net loss of CAD 4,703,000 against CAD 3,115,000 a year ago. Net loss and comprehensive loss for the period was CAD 2,353,000 against CAD 9,170,000 a year ago. Basic and diluted loss per share was CAD 0.30 against CAD 1.40 a year ago. Adjusted LBITDA was CAD 3,074,000 against CAD 1,446,000 a year ago.

Response Biomedical Corp. to Report Q3, 2014 Results on Nov 10, 2014

Response Biomedical Corp. announced that they will report Q3, 2014 results at 5:00 PM, US Eastern Standard Time on Nov 10, 2014


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