Skip to main content
Premium Trial:

Request an Annual Quote

Berkeley Lights Q2 Revenues Fall 10 Percent

NEW YORK – Berkeley Lights reported on Tuesday a 10 percent decrease in second quarter revenues.

For the three months ended June 30, 2020, the Emeryville, California-based cell analysis firm reported $10.6 million in revenues, down from $11.8 million during the same period last year. Product revenues grew 17 percent to $9.1 million, while service revenue fell 63 percent to $1.5 million.

Milestone and related revenues were $128,000, compared to $3.2 million a year ago.

The firm placed four of its optofluidic platforms in the quarter.

Research and development expenses for the quarter totaled $11.8 million, up 23 percent from $9.6 million in Q2 of 2019. Selling, general, and administrative expenses totaled $7.3 million in Q2, up 31 percent from $5.5 million in Q2 of 2019.

Berkeley Lights' net loss for the quarter doubled to $12.4 million or $4.25 per share, from $6.2 million or $2.43 per share a year ago.

Berkeley Lights used approximately 3.1 million weighted-average shares to calculate per-share loss in the recently completed quarter compared to about 2.9 million weighted-average shares a year ago. The company completed its initial public offering in July, from which it raised approximately $188 million in net proceeds.

Berkeley Lights ended the quarter with $59.2 million in cash and cash equivalents.

In Wednesday afternoon trading on the Nasdaq, shares of Berkeley Lights were down 12 percent at $62.90.

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.