NEW YORK – Swedish genetic testing company Devyser Diagnostics reported a 28 percent year-over-year increase in first quarter revenues this week. Sales for the quarter totaled SEK 50.7 million ($4.7 million), up from SEK 39.5 million in the year-ago quarter, driven by higher direct sales and distributor sales. R&D costs totaled SEK 10.7 million in Q1, down from SEK 11.1 million a year ago, while selling and administrative expenses were SEK 47.2 million, up from SEK 41.7 million in Q1 2023. The company had a Q1 net loss of SEK 12.2 million, or SEK .75 per share, down from a net loss of SEK 19.9 million, or SEK 1.24 per share, a year ago. Devyser ended the quarter with SEK 215.0 million in cash and cash equivalents.
Personalis this week reported a 3 percent year-over-year increase in first quarter revenues, driven by a 55 percent increase in pharma testing and services. Revenues totaled $19.5 million in Q1, up from $18.9 million in the year-ago period. Of those, $9.8 million came from pharma testing and services, $8.0 million from enterprise sales, $1.5 million from population sequencing, and $241,000 from other sources. R&D expenses were $12.8 million, down from $16.6 million, while SG&A costs were $11.6 million, down from $14.1 million. The Fremont, California-based cancer genomics company booked a Q1 net loss of $13.0 million, or $.26 per share, down from a net loss of $28.7 million, or $.61 per share, in Q1 2023. Personalis finished the quarter with $44.0 million in cash and cash equivalents and $51.4 million in short-term investments. The company expects $19.5 million to $20.5 million in second quarter revenues. It raised its full-year revenue guidance to $76 million to $78 million from a previous range of $73 million to $75 million.
Accelerate Diagnostics this week announced that its preliminary Q1 net sales rose 4 percent to $2.9 million from $2.8 million in Q1 2023. Revenues from consumable products rose 7 percent year over year. The firm’s net loss was $17.0 million, or $.88 per share, compared to $16.8 million, or $1.71 per share, in Q1 2023. Accelerate Diagnostics ended the quarter with $14.6 million in cash and cash equivalents.