Skip to main content
Premium Trial:

Request an Annual Quote

DeCode Posts 35-Percent Rise in Q3 Revenue as Net Losses More Than Double

NEW YORK (GenomeWeb News) — DeCode Genetics today said third-quarter revenues decreased 35 percent as R&D spending rose 29 percent and loss increased 108 percent.
Total receipts for the three months ended Sept. 30 decreased to $8.6 million from $13.2 million year over year. Decode blamed the decline on lower alliance revenues in 2006, and because $11.8 million in revenue was deferred to future reporting periods.
R&D spending increased to $14.2 million from $11 million year over year. Decode said steady increases in R&D throughout the year are from drug discovery, clinical trials, and SNP analysis covering several disease areas.  
The company said loss increased to $23.6 million from $11.3 million in the year-ago period. The losses came from increased spending on research and in a shift in accounting standards regarding DeCode’s share-based compensation.
DeCode said it had around $126.8 million in cash and investments as of Sept. 30.
DeCode also said that a lawsuit it filed against five former employees and the Children’s Hospital of Philadelphia in September for allegedly stealing trade secrets to set up a competing lab is expected to resume this month.

The Scan

Another Resignation

According to the Wall Street Journal, a third advisory panel member has resigned following the US Food and Drug Administration's approval of an Alzheimer's disease drug.

Novavax Finds Its Vaccine Effective

Reuters reports Novavax's SARS-CoV-2 vaccine is more than 90 percent effective in preventing COVID-19.

Can't Be Used

The US Food and Drug Administration says millions of vaccine doses made at an embattled manufacturing facility cannot be used, the New York Times reports.

PLOS Papers on Frozen Shoulder GWAS, Epstein-Barr Effects on Immune Cell Epigenetics, More

In PLOS this week: genome-wide association study of frozen shoulder, epigenetic patterns of Epstein-Barr-infected B lymphocyte cells, and more.