Skip to main content

Windfall from CombiMatrix Settlement Turbo-charges Nanogen s Q4 Revenue

NEW YORK, Feb. 6 - Nanogen today reported a surge in fourth-quarter revenues atop a slight increase in R&D spending and strong net income. However, most of the revenue and earnings were the result of a windfall from a legal settlement in October.

 

For the period ended Dec. 31, Nanogen reported $12.1 million in revenue, up from $2.3 million one year ago. The company said, however, that receipts from sponsored research fell to $375,000 from $1.2 million year over year. Similarly, sales in the quarter fell to $511,000 from $691,000, Nanogen said.

 

There were two bright spots in the quarter: contracts and grants increased to $414,000 from $376,000 year over year, and CombiMatrix handed over $10.8 million as part of its defeat in a patent-infringement lawsuit.

 

Fourth-quarter R&D spending at Nanogen, meantime, increased to $5.3 million from $4.5 million one year ago. Consequently, the company posted a net income of $2 million, or $.09 per share, compared with a net loss of $7.5 million, or $.35 per share, in the fourth quarter 2001.

 

Nanogen said it had roughly $53 million in cash, cash equivalents, and short-term investments as of Dec. 31.

The Scan

Call to Look Again

More than a dozen researchers penned a letter in Science saying a previous investigation into the origin of SARS-CoV-2 did not give theories equal consideration.

Not Always Trusted

In a new poll, slightly more than half of US adults have a great deal or quite a lot of trust in the Centers for Disease Control and Prevention, the Hill reports.

Identified Decades Later

A genetic genealogy approach has identified "Christy Crystal Creek," the New York Times reports.

Science Papers Report on Splicing Enhancer, Point of Care Test for Sexual Transmitted Disease

In Science this week: a novel RNA structural element that acts as a splicing enhancer, and more.