Skip to main content
Premium Trial:

Request an Annual Quote

Genaissance Posts Uptick in Q1 Revenues

NEW YORK, May 11 (GenomeWeb News) - Genaissance Pharmaceuticals today reported a 74 percent increase in first-quarter revenues, while its losses remained flat and R&D spending increased slightly.

 

For the three months ended March 31, 2004, the company reported $3.7 million in revenue, up from $2.1 million in the prior-year period.

 

Genaissance's net loss for the first quarter was $4.8 million, or $.21 per share, compared to $4.7 million, also $.21 per share, for the three months ended March 31, 2003.

 

The company spent $5.0 million on R&D during the first quarter of 2004, up from $4.7 million in the same period of 2003.

 

As of March 31, 2004, Genaissance had cash, cash equivalents, and marketable securities totaling $11.4 million, compared to $16.8 million as of Dec. 31. 2003.

 

Based on its acquisition of Lark Technologies, which closed April 2, Genaissance provided guidance for the remainder of 2004, projecting revenues "in excess" of $25 million, with a net loss of between $14 and $15 million.

 

Kevin Rakin, president and CEO of Genaissance, said the company expects to launch its first molecular test, called Familion, for cardiac ion channel mutations, later this month.

The Scan

Just Breathing

A new analysis suggests that most Mycobacterium tuberculosis is spread by aerosols from breathing, rather than by coughing, the New York Times reports.

Just Like This One

NPR reports that the World Health Organization has hired a South African biotech company to recreate mRNA vaccine for SARS-CoV-2 that is similar to the one developed by Moderna.

Slow Start

The Wall Street Journal reports that Biogen's Alzheimer's disease treatment had revenues for July through September that totaled $300,000.

Genome Research Papers on Cancer Chromatin, Splicing in the Thymus, Circular RNAs in Cancer

In Genome Research this week: analysis of bivalent chromatin sites, RBFOX splicing factors' role in thymic epithelial cells, and more.