Skip to main content
Premium Trial:

Request an Annual Quote

DeCode's Q1 Revenues, Net Loss Rise

NEW YORK (GenomeWeb News) – DeCode Genetics today reported a 74.4 percent increase in first quarter revenues and an 18.1 percent rise in its net loss.
 
The Reykjavik, Iceland-based firm generated first-quarter revenues of $15 million, compared to revenues of $8.6 million in the first quarter of 2007. The company said the revenue growth was due primarily to continued growth in its genomic services business.
 
"Since the beginning of the year we have sharpened our strategic focus on capturing the commercial potential of our growing portfolio of DNA-based diagnostics for assessing risk of common diseases, and of our personal genome analysis service deCODEme,” DeCode President and CEO Kari Stefansson said in a statement.
 
DeCode’s R&D spending was flat year over year at $12.7 million, while its SG&A expenses grew 30.9 percent to $7.2 million from $5.5 million.
 
The firm’s net loss was $26.7 million, or $.44 per share, compared to $22.6 million, or $.37 per share, in last year’s first quarter.
 
DeCode finished the quarter with $69.5 million in cash, cash equivalents and investments, including restricted cash equivalents.

The Scan

UK Pilot Study Suggests Digital Pathway May Expand BRCA Testing in Breast Cancer

A randomized pilot study in the Journal of Medical Genetics points to similar outcomes for breast cancer patients receiving germline BRCA testing through fully digital or partially digital testing pathways.

Survey Sees Genetic Literacy on the Rise, Though Further Education Needed

Survey participants appear to have higher genetic familiarity, knowledge, and skills compared to 2013, though 'room for improvement' remains, an AJHG paper finds.

Study Reveals Molecular, Clinical Features in Colorectal Cancer Cases Involving Multiple Primary Tumors

Researchers compare mismatch repair, microsatellite instability, and tumor mutation burden patterns in synchronous multiple- or single primary colorectal cancers.

FarGen Phase One Sequences Exomes of Nearly 500 From Faroe Islands

The analysis in the European Journal of Human Genetics finds few rare variants and limited geographic structure among Faroese individuals.