Skip to main content
Premium Trial:

Request an Annual Quote

Pacific Biometrics' Q1 Revenues Rise 27 Percent

NEW YORK (GenomeWeb News) – Pacific Biometrics today reported that its first-quarter 2010 revenues increased 27 percent, though it also noted that it did not meet its internal revenues goal.

The Seattle-based clinical lab and biomarker assay services firm brought in total revenues of $2.3 million for the three-month period ended Sept. 30, compared to revenues of $1.8 million for the first quarter of 2009.

Ron Helm, chairman and CEO of Pacific Biometrics noted that the firm did not reach its internal revenue goal, "in part because of the early termination of several clinical studies for reasons unrelated to our performance.

"We also cannot ignore the ongoing economic difficulties that continue to impact the clinical trials industry, combined with the impact of tight credit markets on spending and investment in all sectors of our markets," he added.

Pacific Biometrics' net loss for the quarter was $273,150, or $.01 per share, up from a net loss of $5,737, or $.00 per share, for the first quarter of 2009. The firm said that the increase in net loss was due to its reporting in Q1 2009 of a significant non-cash gain related to convertible debt that was outstanding.

The company finished the quarter with $3.2 million in cash and cash equivalents.

The Scan

Drug Response Variants May Be Distinct in Somatic, Germline Samples

Based on variants from across 21 drug response genes, researchers in The Pharmacogenomics Journal suspect that tumor-only DNA sequences may miss drug response clues found in the germline.

Breast Cancer Risk Gene Candidates Found by Multi-Ancestry Low-Frequency Variant Analysis

Researchers narrowed in on new and known risk gene candidates with variant profiles for almost 83,500 individuals with breast cancer and 59,199 unaffected controls in Genome Medicine.

Health-Related Quality of Life Gets Boost After Microbiome-Based Treatment for Recurrent C. Diff

A secondary analysis of Phase 3 clinical trial data in JAMA Network Open suggests an investigational oral microbiome-based drug may lead to enhanced quality of life measures.

Study Follows Consequences of Early Confirmatory Trials for Accelerated Approval Indications

Time to traditional approval or withdrawal was shorter when confirmatory trials started prior to accelerated approval, though overall regulatory outcomes remained similar, a JAMA study finds.