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GenMark Diagnostics Reports 35 Percent Spike in Preliminary Q4 Revenue

NEW YORK (GenomeWeb) – GenMark Diagnostics reported after the close of the market today preliminary fourth quarter revenue of $13.2 million and full-year 2015 revenue of $39.4 million, a 35 percent and 29 percent year-over-year increase, respectively.

The company also reported that it placed 17 additional XT-8 analyzers in end-user laboratories during the fourth quarter, resulting in a total installed base of 633 analyzers within the US market. GenMark is now conducting analytical studies of its ePlex Respiratory Pathogen Panel in support of the panel's European launch, which is expected in the first quarter of 2016. The company also expects to make a 510(k) submission to the US Food and Drug Administration in the second quarter.

GenMark is set to present at the 2016 JP Morgan Healthcare Conference in San Francisco on Jan. 13, and will be hosting a conference call to discuss full fourth quarter results and release 2016 guidance on Feb. 23.

The company's shares lost nearly 5 percent in trading on the Nasdaq today, closing at $6.29. But the stock rebounded in after-market trading, gaining nearly 3 percent to $6.47.