Skip to main content
Premium Trial:

Request an Annual Quote

GenMark Expects Q2 Revenues above Estimates

NEW YORK (GenomeWeb) – GenMark Diagnostics said after the close of the market Monday that it expects to report second-quarter revenues of $6.6 million, which would easily beat Wall Street's consensus estimate of $4.8 million.

The Carlsbad, Calif.-based molecular diagnostics firm said that revenues for its base business, which excludes revenue from former customer Natural Molecular Testing, was up 71 percent year over year. Its revenues for Q2 2013, including sales to NMT, were $5.2 million.

NMT had been GenMark's largest customer, but in June 2013 the firm inked a multiyear collaboration with GenMark competitor Luminex, raising questions about the GenMark and NMT relationship going forward. NMT subsequently filed for Chapter 11 bankruptcy protection.

On Monday GenMark said that it placed 31 of its XT-8 analyzers in end-user labs, bringing its total installed base to 475 analyzers in the US market.

In addition, it said that it has completed development of its NexGen sample-to-answer molecular diagnostic instrument, now called ePlex. The system is based on the firm's eSensor technology and includes digital microfluidics, making the system the "only electronic multiplexing system in the marketplace," according to GenMark President and CEO Hany Massarany.

GenMark noted that it will release its full Q2 financial results on Aug. 11.

In Tuesday morning trade on the Nasdaq, shares of GenMark were up 3 percent at $10.89.

The Scan

Positive Framing of Genetic Studies Can Spark Mistrust Among Underrepresented Groups

Researchers in Human Genetics and Genomics Advances report that how researchers describe genomic studies may alienate potential participants.

Small Study of Gene Editing to Treat Sickle Cell Disease

In a Novartis-sponsored study in the New England Journal of Medicine, researchers found that a CRISPR-Cas9-based treatment targeting promoters of genes encoding fetal hemoglobin could reduce disease symptoms.

Gut Microbiome Changes Appear in Infants Before They Develop Eczema, Study Finds

Researchers report in mSystems that infants experienced an enrichment in Clostridium sensu stricto 1 and Finegoldia and a depletion of Bacteroides before developing eczema.

Acute Myeloid Leukemia Treatment Specificity Enhanced With Stem Cell Editing

A study in Nature suggests epitope editing in donor stem cells prior to bone marrow transplants can stave off toxicity when targeting acute myeloid leukemia with immunotherapy.