Skip to main content
Premium Trial:

Request an Annual Quote

Paradigm Reports Fallen Q3 Revenues, Trimmed R&D Spending, and Narrowed Loss

NEW YORK, Nov. 7 - Paradigm Genetics yesterday reported a 16-percent drop in third-quarter revenues, though cuts in R&D spending helped narrow net loss.


For the period ended Sept. 30, Paradigm posted $5.2 million in total revenues compared with $6.3 million one year ago. The company said the decrease, which was expected, resulted from a slowdown in throughput as the research from its GeneFunction Factory deal with Bayer moved away from target discovery and into the assay-development stage.


R&D spending fell in the third quarter to $6.4 million from $7.4 million, as total expenses saw similar cuts, according to Paradigm. The company said the reduced expenses can be attributed to a restructuring plan that ended in April.


Also helping out in the cost-reduction department was Paradigm's decision to divest its ParaGen business. The unit, which performed plant-genotyping services, will not help Paradigm's toxicogenomics or biomarker-discovery programs, the company said.


"We feel ParaGen will be more attractive to companies focused on plant breeding," Paradigm said of the unit it bought from Celera in December 2001. No further information was provided, and company officials did not immediately return telephone calls seeking comment.


Consequently, third-quarter net loss fell to $3.9 million, or $.12 per share, from $4.0 million, or $.15 per share, over the same period one year earlier, Paradigm said.


Paradigm said it had roughly $9.4 million in cash, cash equivalents, and short-term investments as of Sept. 30.


Click here for more information.

The Scan

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.

Machine Learning Improves Diagnostic Accuracy of Breast Cancer MRI, Study Shows

Combining machine learning with radiologists' interpretations further increased the diagnostic accuracy of MRIs for breast cancer, a Science Translational Medicine paper finds.

Genome Damage in Neurons Triggers Alzheimer's-Linked Inflammation

Neurons harboring increased DNA double-strand breaks activate microglia to lead to neuroinflammation like that seen in Alzheimer's disease, a new Science Advances study finds.

Long COVID-19 Susceptibility Clues Contained in Blood Plasma Proteome

A longitudinal study in eBioMedicine found weeks-long blood plasma proteome shifts after SARS-CoV-2 infection, along with proteomic signatures that appeared to coincide with long Covid risk.