Skip to main content
Premium Trial:

Request an Annual Quote

Intrexon's Q2 Revenues Rise Sharply as Loss Declines

NEW YORK (GenomeWeb News) – Synthetic biology firm Intrexon reported after the close of the market Thursday that its second quarter revenues jumped more than 150 percent year over year as the firm trimmed its loss.

The Germantown, Md.-based firm, which went public in early August, brought in total revenues of $6.8 million for the three months ended June 30, up sharply from $2.7 million for the second quarter of 2012.

Its net loss was cut to $6.5 million, or $2.46 per share, from $16.5 million, or $3.99 per share.

Intrexon's R&D expenses for the quarter dropped 23 percent to $13.6 million from $17.6 million, while its general and administrative costs climbed 14 percent to $7.4 million from $6.3 million.

The firm finished the quarter with $34.5 million in cash and cash equivalents and $95.5 million in short-term investments.

During the third quarter, Intrexon completed an initial public offering that brought in net proceeds of $168.3 million.

Intrexon develops gene programs that control cellular functions and cellular systems, or activities within a cell, enabling the development of new and improved products and manufacturing processes for a variety of end markets, including healthcare, food, energy, and environmental sciences.

In Friday morning trade on the New York Stock Exchange, shares of Intrexon were down around 6 percent at $22.36.

The Scan

Study Follows Consequences of Early Confirmatory Trials for Accelerated Approval Indications

Time to traditional approval or withdrawal was shorter when confirmatory trials started prior to accelerated approval, though overall regulatory outcomes remained similar, a JAMA study finds.

Sequencing Study Leads to Vaccine Target in Bacteria Behind Neonatal Meningitis

Researchers eBioMedicine track down potential vaccine targets with transposon sequencing on mutant bacteria causing neonatal meningitis in mouse models of the disease.

Multiple Myeloma Progression Influenced by Immune Microenvironment Expression

Researchers in NPJ Genomic Medicine compare RNA sequencing profiles of 102,207 individual cells in bone marrow samples from 18 individuals with rapid or non-progressing multiple myeloma.

Self-Reported Hearing Loss in Older Adults Begins Very Early in Life, Study Says

A JAMA Otolaryngology — Head & Neck Surgery study says polygenic risk scores associated with hearing loss in older adults is also associated with hearing decline in younger groups.