Skip to main content
Premium Trial:

Request an Annual Quote

Third Wave Posts Higher Q2 Revenues, Narrowed Loss

NEW YORK, Aug. 13 - Third Wave Technologies today reported increased second-quarter revenues atop narrowed losses, as a tighter R&D budget reflected the company's continued efforts to cut costs.

 

For the period ended June 30, Third Wave reported $9.6 million in total revenue compared with $8.7 million in the year-ago period. The increase was due primarily to stronger product sales, which jumped to $9 million in the current quarter from $7.8 million one year ago.

 

R&D spending, which was trimmed to $3.6 million in the second quarter 2002 from $4 million in the same period last year, led the cut in total second-quarter operating expenses, according to Third Wave.

 

As a result of the belt-tightening, net loss in the quarter narrowed to $6.1 million, or $.16 per share, from $6.6 million, or $.17 per share, year over year.

 

Third Wave said it had roughly $60 million in cash, cash equivalents, and short-term investments as of June 30.

 

The company has scheduled an investor web cast today at 10:00 a.m. Eastern time.

The Scan

US Booster Eligibility Decision

The US CDC director recommends that people at high risk of developing COVID-19 due to their jobs also be eligible for COVID-19 boosters, in addition to those 65 years old and older or with underlying medical conditions.

Arizona Bill Before Judge

The Arizona Daily Star reports that a judge weighing whether a new Arizona law restricting abortion due to genetic conditions is a ban or a restriction.

Additional Genes

Wales is rolling out new genetic testing service for cancer patients, according to BBC News.

Science Papers Examine State of Human Genomic Research, Single-Cell Protein Quantification

In Science this week: a number of editorials and policy reports discuss advances in human genomic research, and more.