Skip to main content
Premium Trial:

Request an Annual Quote

In Brief This Week: Prenetics, Biocartis, Bruker

NEW YORK – Prenetics said this week that its third quarter revenue from continuing operations increased 14 percent year over year to $4.9 million from $4.3 million in the same quarter a year ago. The Honk Kong-based genetic testing company reported a net loss of $14.9 million, or attributable to company shareholders of $13.6 million, or $.08 per share, compared to a net loss of $14.9 million, or $.21 per share, a year ago. Third quarter loss per share from continuing operations was $.07. The company calculated Q3 loss per share using approximately 176.2 million shares compared to 70.4 million shares in the same quarter a year ago. Prenetics completed a 1-for-15 reverse stock split on Nov. 14 to bring the company into compliance with the minimum $1.00 per-share requirement for continued listing on the Nasdaq. Prenetics finished the quarter with $105.2 million in cash and other short-term assets, with an additional $79.1 million of cash with Insighta, the company's 50/50 joint venture in early cancer detection with Chinese University of Hong Kong researcher Dennis Lo. 

Biocartis said this week that it has completed its recapitalization and restructuring announced in September. The restructuring resulted in the creation of a new entity called Biocartis Holdings, which owns European operations Biocartis NV and US-based Biocartis US. Under the plan, approximately €132 million of debt was converted into equity, with the new lead shareholders of Biocartis Holdings also investing an additional €40 million of new cash.  

"The new funding will, in combination with the significantly lowered cost structure and debt structure, allow Biocartis to invest in expanding its business instead of servicing its debt," Biocartis CEO Roger Moody said in a statement. 

Bruker said this week that its board of directors has approved a quarterly cash dividend of $.05 per share of the firm’s common stock. The dividend will be paid on Dec. 15 to stockholders of record as of Dec.1. 

In Brief This Week is a selection of news items that may be of interest to our readers but had not previously appeared on GenomeWeb.