Aoxing Pharma has posted a net loss of $653,939 for the first quarter 2010, or $0.01 loss per diluted share, compared to $2.29m, or $0.05 loss per diluted share, for the comparable period in 2009.
China Aoxing chairman and CEO Zhenjiang Yue said that following the recent completion of the facility for the joint venture with Johnson Matthey and with full GMP certification expected by year-end and with the expected GMP re-certification of pill formulation production, they were poised for a very successful 2011.
"We continue to be pleased with our quarterly results, as our financial condition remains strong," Yue said.
"We look forward to re-launching our recertified products, launching new products and begin manufacturing API for the China markets in the calendar year 2011."