NEW YORK (GenomeWeb News) – GeneNews on Friday reported its revenues for the second quarter dropped more than five-fold year over year.

For the three months ended June 30, the Toronto-based molecular diagnostics firm's revenues totaled C$10,019 (US$9,729), compared to C$56,304 in the second quarter of 2012, it said in a document filed with Canadian regulators.

Royalty revenues dropped to C$7,472 in the recently completed quarter from C$51,833, while sales were down to C$2,547 from C$4,471.

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