Skip to main content
Premium Trial:

Request an Annual Quote

Genomic Health Says Strong Oncotype DX Sales Help Boost Q3 Revenue 124 Percent

NEW YORK (GenomeWeb News) - Genomic Health yesterday said third-quarter revenues bolted 124 percent, R&D spending surged 75 percent, and net loss fell by 11 percent.
 
Total receipts for the three months ended Sept. 30 increased to $15.9 million from $7.1 million year over year.
 
Product revenues from Oncotype Dx jumped 129 percent to $15.8 million from $6.9 million, while contract revenue slid 40 percent to $120,000.
 
Genomic Health CEO Randy Scott, said the recent inclusion of Oncotype DX, its diagnostic for breast cancer recurrence, in the guidelines the American Society of Clinical Oncology shows that the test “is becoming standard practice in breast cancer treatment planning.”
 
As GenomeWeb Daily News reported last week, ASCO “recommends using the test” and “differentiated it as an optimal tool for breast cancer treatment selection," said Genomic Health’s chief medical officer Steve Shak.
 
Third-quarter R&D spending increased to $5.6 million from $3.2 million in the year-ago period.
 
Net loss for the quarter was narrowed to $7.3 million from $8.2 million.
 
Genomic Health said it had around $26.8 million in cash and equivalents, and $47 million in short-term investments as of Sept. 30.

The Scan

US Booster Eligibility Decision

The US CDC director recommends that people at high risk of developing COVID-19 due to their jobs also be eligible for COVID-19 boosters, in addition to those 65 years old and older or with underlying medical conditions.

Arizona Bill Before Judge

The Arizona Daily Star reports that a judge is weighing whether a new Arizona law restricting abortion due to genetic conditions is a ban or a restriction.

Additional Genes

Wales is rolling out new genetic testing service for cancer patients, according to BBC News.

Science Papers Examine State of Human Genomic Research, Single-Cell Protein Quantification

In Science this week: a number of editorials and policy reports discuss advances in human genomic research, and more.