NEW YORK (GenomeWeb) – GeneNews yesterday after the close of the market reported a sharp increase year over year in its fourth quarter revenues.
For the three months ended Dec. 31, 2014, GeneNews' total revenues jumped to C$701,000 (US$555,844) from C$37,000 in the prior-year period.
The firm attributed the growth in revenue to a 50 percent increase in ColonSentry test volume in the second half of the fiscal year. The firm's jointly owned US Innovative Diagnostic Laboratory processed 14,387 ColonSentry tests in Q4 2014. The firm has a 33 percent share in the joint venture.