Skip to main content
Premium Trial:

Request an Annual Quote

Transgenomic Posts Slight Q3 Revenue Increase, Narrows Net Loss

NEW YORK (GenomeWeb News) – Transgenomic today reported a 4 percent increase in third-quarter revenues alongside an improved net loss compared to the year-ago period.
For the quarter ended Sept. 30, Transgenomic's net sales from continuing operations climbed to $5.4 million from $5.2 million during the comparable period of 2007.
R&D spending increased 3 percent to $2.8 million from $2.7 million in the third quarter of 2007, while SG&A spending fell 5 percent to $684,000 from $720,000 year over year.
Transgenomic trimmed its third-quarter net loss by 63 percent, to $499,000, or $.01 per share, from $1.3 million, or $.03 per share, for the third quarter of 2007.
Craig Tuttle, president and CEO of Transgenomic, noted that the quarterly net loss followed two consecutive quarters of profitability. “Historically our third quarter has been slower for our instrument and service businesses due to summer laboratory closures in Europe and heavy vacation schedules in the US,” he said. 
Tuttle added that Transgenomic remains “confident” in its financial performance, and that the company expects to expand its services “as we evaluate in-licensing, collaboration, and acquisition opportunities that have the potential to create additional value and accelerate growth.”
The company’s cash and cash equivalents totaled $4.8 million as of Sept. 30.

The Scan

Suicidal Ideation-Linked Loci Identified Using Million Veteran Program Data

Researchers in PLOS Genetics identify risk variants within and across ancestry groups with a genome-wide association study involving veterans with or without a history of suicidal ideation.

Algorithm Teases Out Genetic Ancestry in Individuals at Biobank Scale

Researchers develop an algorithm known as Rye to tease apart ancestry fractions in admixed individuals at a biobank-scale, applying it to 488,221 UK Biobank participants in Nucleic Acids Research.

Multi-Ancestry Analysis Highlights Comparable Common Variants at Complex Trait-Linked Loci

Researchers in Nature Genetics examine common variants implicated in more than three dozen conditions, estimating genetic effect similarities across ancestry tracts in admixed individuals.

Sick Newborns Selected for WGS With Automated Pipeline

Researchers successfully prioritized infants with potential Mendelian conditions for whole-genome sequencing or rapid whole-genome sequencing, as they report in Genome Medicine.