Skip to main content
Premium Trial:

Request an Annual Quote

Response Genetics' Q3 Revenues Decline 9 Percent as Loss More Than Doubles

NEW YORK (GenomeWeb News) – Response Genetics today reported a third-quarter revenue decline of 9 percent and a more than doubling of its net loss on higher spending.
 
The Los Angeles-based molecular diagnostics firm brought in revenues of $2 million for the three-month period ended Sept. 30, compared with revenues of $2.2 million in the comparable period of 2007. It said in a statement that the decrease was primarily due to the timing and quantity of samples for testing that it received from pharmaceutical clients.
 
Response Genetics posted a net loss of $2.2 million, or $.21 per share, for the quarter, up from a net loss of $898,987, or $.09 per share, for the third quarter of 2007.
 
The firm’s R&D spending dropped 37 percent to $410,469 from $651,536 year over year, while its SG&A spending rose 56 percent to $2.8 million from $1.8 million. The company cited an increase in personnel-related expenses to support its growth and higher costs associated with marketing its recently introduced Response Dx tests for colon and lung cancer among the items that pushed up its spending.
 
Response Genetics finished the quarter with $12.3 million in cash and cash equivalents.

The Scan

Team Tracks Down Potential Blood Plasma Markers Linked to Heart Failure in Atrial Fibrillation Patients

Researchers in BMC Genomics found 10 differentially expressed proteins or metabolites that marked atrial fibrillation with heart failure cases.

Study Points to Synonymous Mutation Effects on E. Coli Enzyme Activity

Researchers in Nature Chemistry saw signs of enzyme activity shifts in the presence of synonymous mutations in a multiscale modeling analysis of three Escherichia coli genes.

Team Outlines Paternal Sample-Free Single-Gene Approach for Non-Invasive Prenatal Screening

With data for nearly 9,200 pregnant individuals, researchers in Genetics in Medicine demonstrate the feasibility of their carrier screening and reflex single-gene non-invasive prenatal screening approach.

Germline-Targeting HIV Vaccine Shows Promise in Phase I Trial

A National Institutes of Health-led team reports in Science that a broadly neutralizing antibody HIV vaccine induced bnAb precursors in 97 percent of those given the vaccine.