NEW YORK (GenomeWeb News) — Molecular diagnostics company GeneNews saw its fourth-quarter revenues rise sharply year over year after its colorectal cancer test was approved for marketing in New York, the company reported after the close of the market on Tuesday.

For the three months ended Dec. 31, 2012, the Toronto-based firm posted revenues of C$59,630 (US$58,658), up from C$2,840 a year ago. Revenues were derived completely from its ColonSentry gene expression assay for assessing a patient's risk for colorectal cancer.

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