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Third Wave Stock Dives 13 Percent on Disappointing Q3 Results

Nov 02, 2005

NEW YORK, Nov. 2 (GenomeWeb News) - Shares in Third Wave were down 13.2 percent, or $.47, at $3.08 in mid-afternoon trading after the company announced this morning that  third-quarter revenue fell by half and net losses grew more than 300 fold.

 

As GenomeWeb News reported earlier today, Third Wave's blamed its revenue decline on a "reduction in non-recurring research revenue from Japan." It also said that growth related to molecular diagnostics has been "flat."

 

Separately today, research firm Caris & Company downgraded the stock to "Below Average" from "Average."

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