NEW YORK (GenomeWeb News) - Decode Genetics yesterday said third-quarter revenues rose 27 percent while R&D spending was steady and net loss widened by 3 percent.
Total receipts for the three months ended Sept. 30 climbed to $10.9 million from $8.6 million year over year — an increase that the company attributed to its growing genotyping business.
R&D spending ticked down to $14.1 million from $14.2 million year over year.
Net loss increased to $24.3 million from $23.6 million in the year-ago period.
Decode said it had around $118.6 million in cash, cash equivalents, and investments as of Sept. 30.
Company CEO Kari Stefansson said Decode has continued to expand its DNA-based risk predisposition tests by launching an assay for myocardial infarction. Decode also plans to launch tests for other conditions, including one for glaucoma, in the near future.