Skip to main content

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

Call to Look Again

More than a dozen researchers penned a letter in Science saying a previous investigation into the origin of SARS-CoV-2 did not give theories equal consideration.

Not Always Trusted

In a new poll, slightly more than half of US adults have a great deal or quite a lot of trust in the Centers for Disease Control and Prevention, the Hill reports.

Identified Decades Later

A genetic genealogy approach has identified "Christy Crystal Creek," the New York Times reports.

Science Papers Report on Splicing Enhancer, Point of Care Test for Sexual Transmitted Disease

In Science this week: a novel RNA structural element that acts as a splicing enhancer, and more.