Skip to main content
Premium Trial:

Request an Annual Quote

Transgenomic s Revenues Jump 68%

NEW YORK, Oct 31 – Transgenomic of Omaha, Neb., said Tuesday revenues from its life science business soared 68 percent to $6.25 million in the third quarter from $5.60 million a year ago, due to increased demand from research and commercial organizations.

“Our strategy of marketing our WAVE system into the commercial and industrial market segment during the third quarter contributed to our growth. We believe sales for commercial and industrial applications will continue to be a growth catalyst for us," CEO Collin D’Silva said in a statement. " By increasing the samples that can be analyzed we expect demand for our proprietary consumable products to increase.”

The WAVE system uses denaturing high performance liquid chromatography technology, an alternative to DNA sequencing for genetic screening.

The net loss for the quarter was $2.1 million, or 11 cents a share, compared with a net loss of $2.2 million, or 17 cents a share in the year ago quarter.

In addition to its initial public offering, the company eliminated all debt from its balance sheet during the quarter. Transgenomic’s assets’ totaled $76.8 million at the end of the quarter.

Transgenomic’s earnings statements through March 31, 2000 include results from non-life science products. The company sold these assets as of that date.

The Scan

Billions for Antivirals

The US is putting $3.2 billion toward a program to develop antivirals to treat COVID-19 in its early stages, the Wall Street Journal reports.

NFT of the Web

Tim Berners-Lee, who developed the World Wide Web, is auctioning its original source code as a non-fungible token, Reuters reports.

23andMe on the Nasdaq

23andMe's shares rose more than 20 percent following its merger with a special purpose acquisition company, as GenomeWeb has reported.

Science Papers Present GWAS of Brain Structure, System for Controlled Gene Transfer

In Science this week: genome-wide association study ties variants to white matter stricture in the brain, and more.