Skip to main content
Premium Trial:

Request an Annual Quote

NEWSBRIEF: Nanogen Posts Shrunken Q1 Revenue, Sharper Sales, Wider Loss

NEW YORK, April 30 - Nanogen today reported a wider net loss in the first quarter as shrinking revenue outmusceled a surge in product sales.

 

Total revenue for the quarter ended March 31 were $1.5 million compared with $2.9 million in the year-ago period. The decline was the result of an anticipated slowdown in sponsored research programs, Nanogen said.

The company posted $812,000 in product sales, threefold more than the $229,000 it reported one year ago. Helping this increase was the sale seven NanoChip workstations.

 

R&D spending was cut back to $4.3 million in the current first quarter from $4.8 million year over year. Still, Nanogen posted a loss of $7.5 million, or $.35 per share, compared with $6.3 million, or $.30 per share, one year ago.

 

The company said it had $59.5 million in cash, cash equivalents, and short-term investments as of March 31, it said.

 

For more information, may click here.

The Scan

Booster Push

New data shows a decline in SARS-CoV-2 vaccine efficacy over time, which the New York Times says Pfizer is using to argue its case for a booster, even as the lower efficacy remains high.

With Help from Mr. Fluffington, PurrhD

Cats could make good study animals for genetic research, the University of Missouri's Leslie Lyons tells the Atlantic.

Man Charged With Threatening to Harm Fauci, Collins

The Hill reports that Thomas Patrick Connally, Jr., was charged with making threats against federal officials.

Nature Papers Present Approach to Find Natural Products, Method to ID Cancer Driver Mutations, More

In Nature this week: combination of cryogenic electron microscopy with genome mining helps uncover natural products, driver mutations in cancer, and more.