Skip to main content
Premium Trial:

Request an Annual Quote

CombiMatrix Says Q3 Revenue Inches Up 2 Percent as Net Loss Widens 11 Percent

NEW YORK (GenomeWeb News) — CombiMatrix today said that third-quarter revenue increased 2 percent as net loss widened 11 percent.
Total receipts for the three months ended Sept. 30 rose to $1.8 million from $1.5 million during the same period last year. Most of the revenue growth was from sales of the company’s array equipment and services, which more than doubled to $1.1 million. Government contracts contributed $725 thousand
R&D spending increased 87 percent to $2.8 million.
Net loss increased 11 percent to $4.3 million from $3.9 million year over year. The company blamed the increase on non-cash stock compensation and depreciation charges, and changes in financial reporting concerning employee stock options.
CombiMatrix had around $8.3 million in cash, cash equivalents, and short term investments as of Sept. 30.
Shares in CombiMatrix were down 5.16 percent, or $.03, at $.72 in mid-afternoon trading.

The Scan

Unique Germline Variants Found Among Black Prostate Cancer Patients

Through an exome sequencing study appearing in JCO Precision Oncology, researchers have found unique pathogenic or likely pathogenic variants within a cohort of Black prostate cancer patients.

Analysis of Endogenous Parvoviral Elements Found Within Animal Genomes

Researchers at PLOS Biology have examined the coevolution of endogenous parvoviral elements and animal genomes to gain insight into using the viruses as gene therapy vectors.

Saliva Testing Can Reveal Mosaic CNVs Important in Intellectual Disability

An Australian team has compared the yield of chromosomal microarray testing of both blood and saliva samples for syndromic intellectual disability in the European Journal of Human Genetics.

Octopus Brain Complexity Linked to MicroRNA Expansions

Investigators saw microRNA gene expansions coinciding with complex brains when they analyzed certain cephalopod transcriptomes, as they report in Science Advances.