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NEW YORK – Berkeley Lights reported after the close of the market on Thursday a 31 percent increase in fourth quarter revenues, driven by higher service and consumables revenues.

For the three months ended Dec. 31, 2020 the Emeryville, California-based cell analysis firm reported $21.7 million in revenues, up from $16.6 million during the same period last year and beating the consensus Wall Street estimate of $19.0 million.

Product revenues were $17.7 million, while service revenues were $4.1 million.

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NPR reports that researchers have developed chimeric embryos as part of work toward growing human organs in animals for organ transplants.

According to the Washington Post, the Biden Administration is set to make changes to federal restrictions on fetal tissue research.

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