Skip to main content

Transgenomic s Q1 Loss Narrows 89 Percent Despite 6-Percent Revenue Decline ...

NEW YORK, May 3 (GenomeWeb News) - Transgenomic today reported a steep cut in net losses despite posting a minor decline in revenues during the first quarter. 

 

Transgenomic's reported revenues of $6.5 million for the quarter ended March 31, down 6 percent from the $6.9 million year over year. Interim CEO Mike Summers in a statement attributed the decrease in revenues to foreign currency fluctuations.

 

Transgenomic said that it spent $604,000 on R&D expenses for the first quarter, roughly even with the $606,000 it spent for the same period last year.

 

Net loss for the period narrowed 89 percent to $318,000 from $2.9 million in the year-ago period.

 

As of March 31, Transgenomic had $6.6 million in cash and cash equivalents.

The Scan

Gap in COVAX Doses

BBC News reports that COVAX is experiencing a vaccine shortfall, as the Serum Institute of India has paused exports.

Sanofi, GSK Report Promising Results

The Wall Street Journal reports that the candidate SARS-CoV-2 vaccine from Sanofi and GlaxoSmithKline has had encouraging early results.

Influence of Luck

The New York Times examines how the US avoided variant-fueled increases in COVID-19 cases.

PLOS Papers on Retina GWAS, Hantaan Virus, COVID-19 Phenome-Wide Association Study

In PLOS this week: genome-wide association study of retinal morphology, analysis of hantaan virus found in a mouse, and more.