SpectRx posts $3.3M loss

Aug. 1, 2002 — SpectRx Inc., a Norcross, Ga., developer of medical detection, monitoring and treatment devices using MEMS and other technologies, reported a second quarter loss of $3.3 million, or 29 cents per share, compared with $1.4 million for the same period last year.

Revenue was $774,000, up 22 percent from $635,000 from the year-earlier quarter. According to Mark Samuels, SpectRx chairman and chief executive, the company received eight FDA clearances in the second quarter for three insulin delivery products it plans to roll out in the next 12 to 18 months. The company’s stock closed down 40 cents Wednesday at $2.75.

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