Skip to main content
Premium Trial:

Request an Annual Quote

Signal Genetics Reports 18 Percent Increase in Q2 Revenues

NEW YORK (GenomeWeb) – Cancer diagnostics firm Signal Genetics on Thursday reported an 18 percent year-over-year increase in its second quarter revenues.

In a form 10-Q filed with the US Securities and Exchange Comission, the New York-based company, which went public in June, said that it had revenues of $1.3 million for the three months ended June 30,, compared to $1.1 million in the year-ago quarter.

It also said that it raised net proceeds of about $6.1 million from its IPO.

Its net loss for the second quarter was $3.3 million, or $1.13 per share, compared to a net loss of $539,691, or $.24 per share, a year ago.

The company slashed its R&D spending to $9,023 from $22,820 a year ago, while its SG&A costs were trimmed 2 percent to $525,465 from $537,403. Signal Genetics said that the decrease in R&D costs resulted from the abandonment of certain research projects that were deemed unviable.

The company finished the quarter with $7.7 million in cash and cash equivalents.

The Scan

Panel Votes for COVID-19 Pill

A US Food and Drug Administration panel has voted to support the emergency use authorization of an antiviral pill for COVID-19 from Merck and Ridgeback Biotherapeutics, CNN says.

But Not Harm

New Scientist reports that UK bioethicists say that though gene editing may improve food production, it should not harm livestock welfare.

Effectiveness Drop Anticipated

Moderna's Stéphane Bancel predicts that that current SARS-CoV-2 vaccines may be less effective against the Omicron variant, the Financial Times reports.

Cell Studies of Human Chromatin Accessibility, SARS-CoV-2 Variants, Cell Signaling Networks

In Cell this week: chromatin accessibility maps of adult human tissues, modeling to track SARS-CoV-2 variants of concern, and more.