Imagenetix sales down, income up in Q2

Imagenetix saw a 28% decline in sales for the second quarter of FY2010 (end-September 30), from $2.6 million in the second quarter of FY2009 to $1.9 million for the same period this fiscal year.

Net income for the second quarter was $553,000, compared to $199,000 in the second quarter a year ago. The current fiscal year period was positively impacted by a one-time buy out agreement of $1.25 million, the company noted in a press release.

Imagenetix is developing a drug, 1-tetradecanol complex (1-TDC), designed to treat and possibly arrest periodontal diseases.

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