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

Guidelines for Ancient DNA Work

More than two dozen researchers have developed new ethical guidelines for conducting ancient DNA research, which they present in Nature.

And Cleared

A UK regulator has cleared former UK Prime Minister David Cameron in concerns he should have registered as a consultant-lobbyist for his work with Illumina, according to the Financial Times.

Suit Over Allegations

The Boston Globe reports that David Sabatini, who was placed on leave from MIT after allegations of sexual harassment, is suing his accuser, the Whitehead Institute, and the institute's director.

Nature Papers on Esophageal Cancer, Origin of Modern Horses, Exome Sequencing of UK Biobank Participants

In Nature this week: genetic and environmental influences of esophageal cancer, domestic horse origin traced to Western Eurasian steppes, and more.