Caliper Posts 12-Percent Increase in Q4 Revenue amid Narrowed Losses
Caliper Life Sciences this week said that fourth-quarter revenues increased 12 percent amid a mild increase in R&D spending and a decline in net losses.
Total receipts for the three months ended Dec. 31, 2005, increased to $26.9 million from $24.1 million in the same period last year. "Areas of strength" included sales of the company's microfluidics products and liquid handling instruments.
"An important milestone" in the current quarter was Caliper's Oct. 3, 2005, acquisition of NovaScreen Biosciences (see CBA News, 9/12/2005), which increased the service component of Caliper's total revenue, and was a "revenue growth driver" for the fourth quarter, the company said.
Indeed, service revenue in the fourth quarter had the greatest year-over-year growth, increasing to $6.1 million from $3.4 million. By comparison, product revenue inched up to $18.2 million from $18 million year over year, and receipts from license fees and contracts declined to $2.6 million from $2.7 million in the year-ago period.
R&D spending in the fourth quarter inched up to $4.8 million from $4.7 million in the same period in 2004.
Net loss for the quarter declined to $1.5 million, or $.04 per share, from $6.9 million, or $.23 per share, in the comparable period last year.
Caliper expects to generate between $21 million and $23 million in total revenue in 2006. The company also said it expects to complete the recently disclosed Xenogen acquisition (see CBA News, 2/17/2006) by the end of the second quarter of 2006 and, "reflecting the effects of that transaction," anticipates between $120 million and $128 million in total revenues for 2006.
Caliper said it had around $8.6 million in cash and cash equivalents and $23.1 million in marketable securities as of Dec. 31, 2005.
Serologicals Reports 26-Percent Rise in Q4 Revenue as Profit Turns to Loss
Serologicals this week said its fourth-quarter revenues rose 26 percent to $87.1 million, compared to $69.2 million in the same period last year.
The company reported a net loss of $11.7 million, or $.34 per share, versus a net income of $3.5 million, or $.12 per share in the year-ago period.
Quarterly results included charges and exiting costs related to the decisions to close facilities in Toronto and not to open a facility in Kansas, as well as to the October 2004 acquisition of Upstate Group, said Serologicals in its filing.
The company said it expects to continue "the accelerated integration program" for Upstate and to transfer all Lake Placid, NY, operations and research activities to Temecula, Calif., during the second quarter of 2006. The transfer is expected to result in annualized cost savings for the research segment of approximately $5 million beginning in the second half of 2006.
Research and development costs in the fourth quarter were nearly flat at $4 million.
The company had around $38 million in cash and short-term investments as of Jan. 1, 2006.
Cellumen and CHDI to Build Cellular Model for Huntington's Disease
Cellumen and CHDI this week said that they have entered a collaborative research agreement to build a "systems cell biology" model of Huntington's disease.
The cellular model will be based on Cellumen's systems cell biology research model, and will serve as the foundation of a broadly applicable neurotoxicity profiling assay panel to characterize pre-clinical compounds, the organizations said.
CHDI is the not-for-profit drug-discovery arm of the High Q Foundation for Huntington's disease.
Financial terms were not disclosed.
Cambrex Licenses Cell Line to Chugai Pharmaceutical
Cambrex's Bio Science Wakersville subsidiary this week said that Japan's Chugai Pharmaceutical has signed a one-year renewable license to use a specific Cambrex cell line in its drug-discovery programs.
The license was signed after Chugai completed its assessment of certain of Cambrex's Clonetics conditionally immortalized cell lines, under a previously announced evaluation license.
The license agreement was executed by Cembrex's exclusive Japanese distributor GeneFrontier. Financial details were not disclosed.
Chugai is the first Japanese company to license this technology, Cambrex said.
Broad Foundation Gives $25M for New Stem Cell Institute at USC Med School
The University of Southern California said this week that it has received $25 million from the Broad Foundation to create the Broad Institute for Integrative Biology and Stem Cell Research at USC's Keck School of Medicine.
USC said that the 215,000-square-foot facility will be the largest stem cell research center in California.
The Broad Institute will include the newly created Center for Stem Cell and Regenerative Medicine, a multidisciplinary initiative comprising researchers from the USC Health Sciences and University Park campuses, as well as from Childrens Hospital Los Angeles, USC said.
The scientific teams will pursue basic research in regenerative medicine and will work with teams from the California Institute of Technology and other regional institutions to develop platforms in imaging, bioengineering, and nanotechnology for stem cell research applications.
Expanding in China, PerkinElmer Opens New Tech Center in Shanghai; Will Be New China HQ
PerkinElmer this week said it has opened a new technology center in Shanghai, China, and that it will consolidate into it three existing facilities in that city.
The new center, which PerkinElmer said "allows for easy expansion," aims to bring together PerkinElmer's sales, service, customer care, and technology-support functions, and will be the company's regional headquarters for greater China.
The new center is located at Zhangjiang Bio-Pharma Park in Pudong New Territory.