Skip to main content
Premium Trial:

Request an Annual Quote

Third Wave s Q1 Revenue Rises 11 Percent as R&D Slides; Loss Unchanged

This article has been updated from a previous version, which incorrectly stated that revenues from licenses and royalties increased 19 percent, rather than revenues from grants.

 

NEW YORK, April 25 (GenomeWeb News) - Third Wave today said first-quarter revenues increased 11.3 percent as R&D spending dipped slightly and net losses remained roughly flat.

 

Total receipts for the three months ended March 31 increased to $7.9 million from $7.1 million year over year. Revenue from clinical product sales grew 52 percent to $4.7 million, though revenue from research products fell 21 percent to $3 million.

 

License and royalty receipts fell 71 percent to $27,000, while revenue from grants increased 19 percent to $142,000.

 

Third Wave said R&D spending in the quarter declined 8 percent to $2.3 million from the year-ago period.

 

Net loss remained flat at $4.4 million, or $.11 per share, the company said.

 

Third Wave said it had around $35.6 million in cash, equivalents, and short-term investments as of March 31.

The Scan

Push Toward Approval

The Wall Street Journal reports the US Food and Drug Administration is under pressure to grant full approval to SARS-CoV-2 vaccines.

Deer Exposure

About 40 percent of deer in a handful of US states carry antibodies to SARS-CoV-2, according to Nature News.

Millions But Not Enough

NPR reports the US is set to send 110 million SARS-CoV-2 vaccine doses abroad, but that billions are needed.

PNAS Papers on CRISPR-Edited Cancer Models, Multiple Sclerosis Neuroinflammation, Parasitic Wasps

In PNAS this week: gene-editing approach for developing cancer models, role of extracellular proteins in multiple sclerosis, and more.