NEW YORK (GenomeWeb News) — Third Wave Technologies today said third-quarter revenues increases 26 percent as net loss declined 30 percent.
Total receipts for the three months ended Sept. 30 increased to $6.6 million from $5.2 million year over year. Molecular diagnosis contributed $5.2 million.
R&D expenses on the quarter were up sharply, at $3.5 million compared with $2 million the previous year.
Quarterly losses slid 30 percent in the period to $5.2 million from $7.4 million year over year.
At the end of the quarter Third Wave had around $33 million in cash, cash equivalents, and short-term investments.