By a GenomeWeb staff reporter

NEW YORK (GenomeWeb News) – Molecular diagnostics firm GeneNews on Wednesday reported revenues for the first quarter increased 10-fold as it received a milestone payment of C$40,000 ($41,341).

The Toronto-based firm said that total revenues rose to C$44,177 ($45,658) for the three months ended March 31 from $4,417 a year ago. Sales for the quarter increased 8 percent to C$4,177 from C$3,885 a year ago, while non-refundable licensing revenues dropped to zero from C$532 a year ago.

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