Skip to main content
Premium Trial:

Request an Annual Quote

Clinical Data's Q4 Revenues Rise 9 Percent; Trims Net Loss

NEW YORK (GenomeWeb News) – Clinical Data today reported that its fourth-quarter revenues rose 9 percent and that it trimmed its net loss for the quarter by 13 percent.
The Newton, Mass.-based firm brought in total revenue of $7.8 million for the three months ended March 31, compared with revenues of $7.1 million in the fourth quarter of 2007. The company said that its PGxHealth unit brought in revenues of $1.5 million for the quarter, while its Cogenics unit had revenues of $6.2 million.
Clinical Data’s net loss fell to $14.7 million, or $.70 per share, compared to a net loss of $16.9 million, or $1.14 per share, for the fourth quarter of 2007.
Its R&D costs tripled to $6.1 million from $2 million, while its SG&A expenses climbed 10.1 percent to $10.9 million from $9.9 million.
For full-year 2008, Clinical Data’s revenues increased 7.6 percent to $34 million from $31.6 million. The PGxHealth unit had full-year sales of $5.1 million, and Cogenics had revenues of $28.9 million.
Clinical Data’s fiscal 2008 net loss dropped 5.9 percent to $35.3 million, or $1.85 per share, from $37.5 million, or $2.65 per share, in 2007.
The firm’s R&D expenses rose 60.3 percent to $18.6 million from $11.6 million. Its SG&A costs increased 17.7 percent to $37.3 million from $31.7 million.
Clinical Data finished its fiscal 2008 year with cash and cash equivalents of $54.8 million.

The Scan

Study Follows Consequences of Early Confirmatory Trials for Accelerated Approval Indications

Time to traditional approval or withdrawal was shorter when confirmatory trials started prior to accelerated approval, though overall regulatory outcomes remained similar, a JAMA study finds.

Sequencing Study Leads to Vaccine Target in Bacteria Behind Neonatal Meningitis

Researchers eBioMedicine track down potential vaccine targets with transposon sequencing on mutant bacteria causing neonatal meningitis in mouse models of the disease.

Multiple Myeloma Progression Influenced by Immune Microenvironment Expression

Researchers in NPJ Genomic Medicine compare RNA sequencing profiles of 102,207 individual cells in bone marrow samples from 18 individuals with rapid or non-progressing multiple myeloma.

Self-Reported Hearing Loss in Older Adults Begins Very Early in Life, Study Says

A JAMA Otolaryngology — Head & Neck Surgery study says polygenic risk scores associated with hearing loss in older adults is also associated with hearing decline in younger groups.