Skip to main content
Premium Trial:

Request an Annual Quote

Nanosphere's Q4 Revenues More Than Double

NEW YORK (GenomeWeb News) – Nanosphere today reported that its fourth-quarter revenues more than doubled as it nudged ahead of analysts' consensus estimate.

The Northbrook, Ill.-based molecular diagnostics firm reported revenues of $828,000 for the quarter ended Dec. 31, compared to revenues of $310,000 for the fourth quarter of 2010. It beat analysts' expectations for $810,000 in revenues.

William Moffitt, president and CEO of Nanosphere, said in a statement that the firm had shipped 30 of its Verigene molecular testing systems to new customers during the quarter.

The firm's net loss for the quarter was $8.6 million, or $.17 per share, versus a loss of $7.4 million, or $.27 per share, for Q4 2010. Analysts, on average, had expected a loss per share of $.21.

Nanosphere didn't provide details of its R&D or SG&A spending for the quarter in its Form 10-K or in its press release.

For full-year 2011, Nanosphere's revenues climbed 25 percent to $2.5 million from $2 million, matching Wall Street's expectations.

Its net loss for the year was $35.4 million, or $.94 per share, down from a net loss of $40.6 million, or $1.46 per share, for 2011. It beat analysts' consensus estimate for a loss of $.97 per share.

The firm's R&D spending for the year increased 6 percent to $20 million from $18.8 million, while its SG&A spending fell 26 percent to $16.2 million from $22 million.

The 2010 results were hit by litigation defense and settlement expenses associated with a legal dispute with Eppendorf.

Nanosphere finished the year with $39.3 million in cash and cash equivalents.

The Scan

Wolf Howl Responses Offer Look at Vocal Behavior-Related Selection in Dogs

In dozens of domestic dogs listening to wolf vocalizations, researchers in Communication Biology see responses varying with age, sex, reproductive status, and a breed's evolutionary distance from wolves.

Facial Imaging-Based Genetic Diagnoses Appears to Get Boost With Three-Dimensional Approach

With data for more than 1,900 individuals affected by a range of genetic conditions, researchers compared facial phenotype-based diagnoses informed by 2D or 3D images in the European Journal of Human Genetics.

Survey Suggests Multigene Cancer Panel VUS Reporting May Vary Across Genetic Counselors

Investigators surveyed dozens of genetic counselors working in clinical or laboratory settings, uncovering attitudes around VUS reporting after multigene cancer panel testing in the Journal of Genetic Counseling.

Study Points to Tuberculosis Protection by Gaucher Disease Mutation

A mutation linked to Gaucher disease in the Ashkenazi Jewish population appears to boost Mycobacterium tuberculosis resistance in a zebrafish model of the lysosomal storage condition, a new PNAS study finds.