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In Brief This Week: Agilent Technologies; Diagnocure; KineMed, Pfizer; PositiveID; SomaLogic

NEW YORK (GenomeWeb) – Agilent Technologies said this week that it has mad an adjustment to its second quarter 2014 GAAP net income. The firm said that it has lowered that figure to $139 million, or $.41 per share, from a previously reported $150 million, or $.45 per share. Agilent said the change was the result of an out-of-period adjustment for tax expense. It added that its Q2 2014 non-GAAP net income was unchanged at $244 million, or $.72 per share.

Molecular diagnostics firm DiagnoCure this week reported second quarter revenues of $130,493, down slightly from Q2 2013 revenues of $164,262. All of its revenues were derived from licenses and royalty. Its net loss for the quarter was trimmed to $536,597, or $.01 per share, from $849,344, or $.02 per share. The firm finished the quarter with nearly $3 million in cash, cash equivalents, and short-term investments.

The firm also said that it had granted an exclusive license to China's Shuwen Biotech to commercialize DiagnoCure's Previstage GCC colorectal cancer staging test in China, Hong Kong, and Taiwan. For more on that deal please see PCR Insider.

KineMed said that it has renewed a non-exclusive research collaboration with Pfizer, under which the firms will use KineMed's proteomics platform to map the impact of potential drug candidates on specific metabolic pathways. The firms will particularly focus on type 2 diabetes.

PositiveID said that it expects to bring in revenues of between $4 million and $10 million over the next 18 months, of which $3.3 million is in backlog. It said that the revenue estimate is based on an increase in US government procurements for biothreat detection. It recently announced contracts to use its Microfluidic Bioagent Autonomous Networked Detector technology and its PCR-based Firefly Dx handheld diagnostic system in collaborations under contract from US agencies.

SomaLogic said this week that it has received funding from the Bill & Melinda Gates Foundation to support further development and validation of a SOMAmer-based tuberculosis biomarker assay for identifying people with active tuberculosis. It said that the new funding, the amount of which was not disclosed, extends work carried out under an earlier grant from the gates Foundation's Grand Challenges in Global Health program.

In Brief This Week is a Friday column containing news items that our readers may have missed during the week.