SpectRx narrows third quarter loss

Oct. 31, 2002 — SpectRx Inc., a Norcross, Ga., developer of medical detection, monitoring and treatment devices using MEMS and other technologies, posted a $1.1 million third quarter loss, or 10 cents per share, compared with $1.6 million for the year-earlier period, according to a news release.

Revenue was $1.6 million, up from $570,000 in the third quarter of 2001. The release said the increase was mainly the result of a one-time $1 million payment from Abbott Laboratories, part of a program to commercialize SpectRx’s continuous glucose monitor. The company’s stock closed up almost 46 percent on Wednesday at $2 per share.


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