Logo

CombiMatrix Shares Slide 6.25 Percent Despite Strong Q2 Revenue Growth

Jul 27, 2005

NEW YORK, July 27 (GenomeWeb News) - Acacia Research yesterday reported increased revenues and slightly increased losses for its CombiMatrix group in the second quarter of 2005.

 

However, shares in the company were down 6.25 percent, or $.16, at $2.40, in mid-afternoon trading.

 

CombiMatrix's revenues for the quarter were $1.9 million, up 147 percent over $750,000 during the year-ago period. Revenues from sales of the company's CustomArrays contributed $565,000, more than a 10-fold increase year-over-year.

 

Research and development costs remained flat, at $1.42 million, compared to $1.41 million during the same quarter last year.

 

The company's net loss for the quarter was $3.7 million, slightly up from $3.5 million during the year-ago period. Part of this increase was due to greater costs to fulfill a government contract.

 

As of June 30, CombiMatrix had $16.2 million in cash, cash equivalents, and short-term investments.

Breaking News
The Scan

Purnell Choppin Dies

Purnell Choppin, a virologist who led the Howard Hughes Medical Institute, has died at 91, according to the Washington Post.

Effectiveness May Decline, Data From Israel Suggests

The New York Times reports that new Israeli data suggests a decline in Pfizer-BioNTech SARS-CoV-2 vaccine effectiveness against Delta variant infection, though protection against severe disease remains high.

To See Future Risk

Slate looks into the use of polygenic risk scores in embryo screening.

PLOS Papers on Methicillin-Resistant Staphylococcus, Bone Marrow Smear Sequencing, More

In PLOS this week: genomic analysis of methicillin-resistant Staphylococcus pseudintermedius, archived bone marrow sequencing, and more.