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Orchid Reports Increased Q1 Revenues; Plans to Shut Germantown Testing Facility by Fall

NEW YORK, April 28 (GenomeWeb News) - Orchid BioSciences yesterday reported a 9-percent increase in revenues and smaller losses for the first quarter. The company also said it will close its Germantown, Md., DNA testing lab and consolidate all of its USforensic testing services to its Dallas, Texas, and Nashville, Tenn.sites.

 

Revenues for the quarter increased to $14.5 million from $13.3 million during the same quarter in 2004.

 

Research and development costs came down slightly, to $397,000 from $417,000 during the year-ago period.

 

Orchid's net loss fell to $1.7 million, or $.07 per share, from $6.9 million, or $.41 per share, during the first quarter in 2004.

 

As of March 31, Orchid had $24.1 million in cash and cash equivalents, and $6 million in short-term investments.

 

Orchid said it will close its Germantownfacility by Sept. 30 in order to lower its costs by $2 million to $2.5 million per year and to make its DNA testing services more efficient and scalable. The company said it plans to keep key staff members from the Germantownsite.

The Scan

For Better Odds

Bloomberg reports that a child has been born following polygenic risk score screening as an embryo.

Booster Decision Expected

The New York Times reports the US Food and Drug Administration is expected to authorize a booster dose of the Pfizer-BioNTech SARS-CoV-2 vaccine this week for individuals over 65 or at high risk.

Snipping HIV Out

The Philadelphia Inquirer reports Temple University researchers are to test a gene-editing approach for treating HIV.

PLOS Papers on Cancer Risk Scores, Typhoid Fever in Colombia, Streptococcus Protection

In PLOS this week: application of cancer polygenic risk scores across ancestries, genetic diversity of typhoid fever-causing Salmonella, and more.