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Pyrosequencing Q2 Revenues Rise

NEW YORK, Aug. 7 – Pyrosequencing, of Uppsala, Sweden, said on Tuesday that its second-quarter revenues jumped to $2.3 million, compared to $580,000 in the year-ago period.

The SNP company said the increase came from the sale of 20 of its PSQ 96 Systems during the quarter compared to nine instruments sold in the same quarter one year ago. 

The company also reported an increased net loss to $3.2 million, or 9 cents per share, compared with $2.5 million, or 10 cents a share, in the year-ago period.

At the end of June, the company had $67.1 million in cash, cash equivalents, and investments in high-grade debt securities, including investments with maturity dates exceeding 12 months.

Last month, a research group at Uppsala University had agreed to use Pyrosequencing technology to examine the genomes of antibiotic resistant bacteria, according to the company.

As GenomeWeb  reported, the deal calls for an Uppsala researcher to use several applications of the Pyrosequencing technology to analyze antibiotic resistant strains of Helicobacter pylori and Mycobacterium tuberculosis , the bacteria responsible for gastric ulcers and tuberculosis, respectively. 

Pyrosequencing will provide technical support throughout the collaboration, which will last one year.

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