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Caliper's Q4 Revenues Rise as Net Loss Falls; Settles Litigation With AntiCancer

NEW YORK (GenomeWeb News) – Caliper Life Sciences today reported a 16 percent increase in fourth-quarter revenues, driven by sales of its IVIS molecular imaging systems and microfluidics instruments, and a 56 percent drop in its net loss year over year.
 
The Hopkinton, Mass.-based firm reported revenues of $40.3 million for the three-month period ended Dec. 31, 2007, up from revenues of $34.7 million in the fourth quarter of 2006. Caliper said sales for its IVIS systems increased 44 percent year over year, with 51 unit placements during the quarter. Its microfluidics instrument revenue grew 26 percent, while its automation instrument revenue was flat with the fourth quarter of 2006, the company said.
 
Caliper posted a net loss of $5.7 million, or $.12 per share, down from a net loss of $8.9 million, or $.19 per share, in the comparable period a year ago.
 
The firm’s R&D expenses fell 12.3 percent to $5.7 million from $6.5 million, while its SG&A costs increased 14.7 percent to $15.6 million from $13.6 million.
 
For full-year 2007, Caliper reported revenues of $140.7 million, a 30 percent increase over revenues of $107.9 million in 2006. The firm posted a net loss of $24.1 million, or $.51 per share, compared to a loss of $28.9 million, or $.75 per share, in 2006.
 
Its R&D costs increased slightly in 2007 to $24.8 million from $24.6 million, and its SG&A costs rose to $55 million from $43.6 million.
 
Caliper finished the year with $15.7 million in cash and cash equivalents.
 
The company expects to report first-quarter 2008 revenue of between $26.5 million and $29.5 million, and full-year 2008 revenue of between $142 million and $148 million.
 
In a separate announcement today, Caliper said that it has entered into a cross-licensing agreement with AntiCancer, and the parties have agreed to end all outstanding patent litigation between the firms.
 
Under the terms of the cross-licensing pact, Caliper acquired the right to sublicense AntiCancer's fluorescent protein optical imaging patents to third-parties in combination with Caliper's own in vivo fluorescent and bioluminescent optical imaging patents. In return, San Diego-based AntiCancer acquired the right to sublicense Caliper's optical imaging patents in the field of fluorescent protein imaging to a specified annual number of third parties throughout the life of the agreement, along with its own fluorescent protein optical imaging patents.
 
In addition, each company received a royalty-free license from the other for internal and contract research operations. The firms will share in any revenues generated by the licensing of their imaging technologies in the field of fluorescent protein imaging. No other payments will be made for either the settlement or cross-licensing agreements, and further financial details were not disclosed.
 
The partners also expect to enter into an OEM pact, under which Caliper will market and sell certain mouse and cell lines developed by AntiCancer for use in fluorescent protein-based optical imaging experiments.

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