Skip to main content
Premium Trial:

Request an Annual Quote

Clinical Data’s Q2 Sales Jump 27 Percent

This article has been corrected from a previous version, which contained factual errors regarding Clinical Data's vilazodone and Stedivaze programs. GenomeWeb regrets this inaccuracy.

NEW YORK (GenomeWeb News) – Clinical Data today reported that its second-quarter revenues increased 27 percent year over year, due to a 51 percent rise in gross sales of its Familion genetic tests, which are sold through the firm’s PGx Health division.

The Newton, Mass.-based drug and pharmacogenomic test developer brought in total revenues of $3 million for the three-month period ended Sept. 30, compared with revenues of $2.4 million for the second quarter of 2008.

Clinical Data posted a net loss of $18.6 million, or $.79 per share, for the quarter, compared to a net loss of $70 million, or $.3.30 per share, the year before.

During the quarter, Clinical Data raised $47.4 million through a public offering.

Clinical Data’s R&D spending for the quarter ticked up 4 percent to $8.9 million from $8.6 million, while its SG&A expenses dipped around 3 percent to $7.4 million from $7.6 million.

The company also reported generating $1.5 million in proceeds from the sale of some assets it gained through the purchase of Avalon Pharmaceuticals.

“The majority of our resources remain focused on driving our late-stage products toward key development milestones, several of which we anticipate over the next few quarters,” company CEO and President Drew Fromkin said in a statement.

The company also said that the increase in its R&D spending was attributable to concluding Phase III trials for its vilazodone treatment for depression, for which the company plans to file an NDA in Q1 2010. Clinical Data expects ongoing R&D funds to support the NDA, as well as a Phase III program for its Stedivaze test for cardiac stress.

Clinical Data finished the quarter with $37.2 million in cash and cash equivalents.

The Scan

Study Reveals New Details About Genetics of Major Cause of Female Infertility

Researchers in Nature Medicine conducted a whole-exome sequencing study of mote than a thousand patients with premature ovarian insufficiency.

Circulating Tumor DNA Shows Potential as Biomarker in Rare Childhood Cancer

A study in the Journal of Clinical Oncology has found that circulating tumor DNA levels in rhabdomyosarcoma may serve as a biomarker for prognosis.

Study Recommends Cancer Screening for Dogs Beginning Age Seven, Depending on Breed

PetDx researchers report in PLOS One that annual cancer screening for dogs should begin by age seven.

White-Tailed Deer Harbor SARS-CoV-2 Variants No Longer Infecting Humans, Study Finds

A new study in PNAS has found that white-tailed deer could act as a reservoir of SARS-CoV-2 variants no longer found among humans.