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

J&J Booster Support

A US Food and Drug Administration advisory panel has voted to support a booster dose of Johnson & Johnson's SARS-CoV-2 vaccine, according to the Los Angeles Times.

To Keep the Cases Moving

The president of the UK Royal College of Pathologists tells the Financial Times that more investment is needed to tackle a backlog of cases.

NAS Expels Archaeologist

Science reports Luis Jaime Castillo Butters' expulsion is the first of an international member from the US National Academy of Sciences.

PLOS Papers on Angelman Syndrome-Like Cases, Salmonella Paratyphi A, SARS-CoV-2 in Brazil

In PLOS this week: exome sequencing analysis of Angelman syndrome-like cases, genetic epidemiology of Salmonella Paratyphi A, and more.