Skip to main content
Premium Trial:

Request an Annual Quote

Nanogen's Q2 Revenues Spike 63 Percent, Loss Widens on Consolidation Costs

NEW YORK (GenomeWeb News) - Nanogen yesterday said second-quarter revenues increased 63 percent as R&D spending increased 15 percent and its net loss increased 3 percent.
Total receipts for the three months ended June 30 increased to $10.3 million from $6.3 million year over year.
The company said product-related revenue rose 32 percent to $5.3 million from $4 million, and income from licensing and royalties increased 13 percent to $2.1 million from $1.8 million.
Revenue from contracts and grants rose more than six-fold to $3 million from $481,000.
R&D spending rose to $7.5 million from $6.5 million year over year.
The company said its net loss widened to $14.5 million from $14.1 million in the year-ago period.
Nanogen said this quarter it assumed $1.9 million in termination costs related to the consolidation of its operations in Toronto into a single facility, and it spent $2 million investing in the Finnish genetic marker company Jurilab.
Nanogen had around $7.3 million in cash and equivalents and $6.1 million in short-term investments as of June 30.
The company said it expects revenue to grow more than 50 percent for full-year 2007 compared with 2006, when it posted $26.9 million in revenue.  
"As evidenced by our facilities consolidation in Toronto, we are continuing to aggressively manage expenses,” said Nanogen CEO Howard Birndorf said.

The Scan

Effectiveness May Decline, Data From Israel Suggests

The New York Times reports that new Israeli data suggests a decline in Pfizer-BioNTech SARS-CoV-2 vaccine effectiveness against Delta variant infection, though protection against severe disease remains high.

To See Future Risk

Slate looks into the use of polygenic risk scores in embryo screening.

PLOS Papers on Methicillin-Resistant Staphylococcus, Bone Marrow Smear Sequencing, More

In PLOS this week: genomic analysis of methicillin-resistant Staphylococcus pseudintermedius, archived bone marrow sequencing, and more.

Shape of Them All

According to BBC News, researchers have developed a protein structure database that includes much of the human proteome.