July 17, 2009 / 10:32 PM / 9 years ago

UPDATE 1-BioMS posts Q2 profit

* Q2 EPS C$0.02 vs breakeven a yr ago

* Rev from collaboration rises 6.25 pct

July 17 (Reuters) - BioMS Medical Corp MS.TO posted a quarterly profit, helped partly by lower research and development expenses.

For the second quarter, net income was C$1.5 million ($1.35 million), or 2 Canadian cents a share, compared with a loss of C$402,000, or breakeven a share, a year earlier.

Revenue from the company’s collaboration agreement rose 6 percent to C$11.9 million.

The biotechnology company’s research and development expenses fell 13 percent to C$8.1 million in the second quarter.

Shares of the Edmonton, Alberta-based company were down 1 Canadian cent at C$2.79 Friday after the bell.

Reporting by Koustav Samanta in Bangalore; Editing by Unnikrishnan Nair

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