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Signal Genetics Reports Flat 2014 Revenues

NEW YORK (GenomeWeb) – Signal Genetics said in its Form 10-K today that its full-year 2014 revenue growth was flat year over year at $4.3 million. 

The molecular diagnostics firm also said that its net loss attributable to shareholders and company members was $7.9 million in 2014, compared to a net loss of $2.4 million in 2013. On a per-share basis, net loss retreated to $3.50 in 2014 compared to $12.23 in 2013. 

Signal Genetics, which went public in June 2014, used about 2.3 million shares to calculate its net loss on a per-share basis in 2014, and 200,000 shares to calculate its 2013 loss-per-share figure, it said.  

Its R&D costs rose to $293,000 from $225,000, while its SG&A costs spiked to $7.8 million from $1.8 million. 

The company finished 2014 with $5.1 million in cash. Pursuant to the end of 2014, Signal raised $9 million in gross proceeds in a public offering of its common shares.

New York City-based Signal offers the MyPRS microarray-based gene expression profile assay for predicting a patient's risk of early relapse for multiple myeloma. It enables physicians to stratify their patients and treatment options and identify genomic alterations that may affect which therapies doctors choose.

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