Skip to main content
Premium Trial:

Request an Annual Quote

Orchid Said Higher Revenue, Miniscule R&D Tab Helped Trim Losses in Q1

NEW YORK, May 8 - Orchid Bioscience today said that a jump in first-quarter revenue and shrunken R&D spending helped trim net losses.

 

Total revenue for the period ended March 31 increased to $12.7 million from $11.7 million year over year, Orchid said.

 

First-quarter R&D spending fell to $1.1 million from $5.4 million in the year-ago period. As a result, net loss narrowed by more than half to $5.2 million, or $.09 per share, from $10.5 million, or $.21 per share, in the first quarter last year.

 

Orchid said it had approximately $12.4 million in cash and cash equivalents as of March 31.

 

George Poste, Orchid's chairman, said he "look[s] forward to reporting our progress on recruiting a chief executive officer as well as the divestiture of our Diagnostics business in the near future." Orchid's former CEO, Dale Pfost, resigned in December 2002.

The Scan

Genetic Risk Factors for Hypertension Can Help Identify Those at Risk for Cardiovascular Disease

Genetically predicted high blood pressure risk is also associated with increased cardiovascular disease risk, a new JAMA Cardiology study says.

Circulating Tumor DNA Linked to Post-Treatment Relapse in Breast Cancer

Post-treatment detection of circulating tumor DNA may identify breast cancer patients who are more likely to relapse, a new JCO Precision Oncology study finds.

Genetics Influence Level of Depression Tied to Trauma Exposure, Study Finds

Researchers examine the interplay of trauma, genetics, and major depressive disorder in JAMA Psychiatry.

UCLA Team Reports Cost-Effective Liquid Biopsy Approach for Cancer Detection

The researchers report in Nature Communications that their liquid biopsy approach has high specificity in detecting all- and early-stage cancers.