Skip to main content
Premium Trial:

Request an Annual Quote

Source BioScience's First-Half '08 Revenues Jump 88 Percent

NEW YORK (GenomeWeb News) – Source BioScience today reported that its first-half 2008 revenues increased 88 percent, with a large portion of that growth coming from recent acquisitions.
The Nottingham, UK-based genomics and diagnostics services firm brought in revenues of £5.9 million ($10.8 million) for the six-month period ended June 30, compared to revenues of £3.1 million for the first half of 2007. SBS said that of the £2.8 million in revenue growth £2.4 million came from its new Life Science Research division, which includes the acquired businesses of Geneservice and Autogen Bioclear.
SBS, formerly called Medical Solutions, purchased Geneservice last year for £3.9 million. It acquired Autogen Bioclear for up to £5.9 million during the first half of 2008.
The firm said that sales of gene sequencing, genotyping, and genomic reagents grew 26 percent year over year to £1.6 million, due to the rapid integration of Geneservice “and cross-selling opportunities being identified and exploited.”
SBS posted a loss of £181,000, or £.09 per share, compared to a loss of £304,000, or £.15 per share, for the first half of 2007.
The company’s administrative expenses increased 40 percent to £2.1 million from £1.5 million, while its R&D expenses increased to £109,000 from £61,000.
SBS finished the first half of the year with £8.3 million in cash and cash equivalents.

The Scan

Study Reveals New Details About Genetics of Major Cause of Female Infertility

Researchers in Nature Medicine conducted a whole-exome sequencing study of mote than a thousand patients with premature ovarian insufficiency.

Circulating Tumor DNA Shows Potential as Biomarker in Rare Childhood Cancer

A study in the Journal of Clinical Oncology has found that circulating tumor DNA levels in rhabdomyosarcoma may serve as a biomarker for prognosis.

Study Recommends Cancer Screening for Dogs Beginning Age Seven, Depending on Breed

PetDx researchers report in PLOS One that annual cancer screening for dogs should begin by age seven.

White-Tailed Deer Harbor SARS-CoV-2 Variants No Longer Infecting Humans, Study Finds

A new study in PNAS has found that white-tailed deer could act as a reservoir of SARS-CoV-2 variants no longer found among humans.