Skip to main content
Premium Trial:

Request an Annual Quote

DiagnoCure Cuts Q2 Loss as Revenues Drop

NEW YORK (GenomeWeb News) – DiagnoCure reported after the close of the market yesterday that it had trimmed its net loss 24 percent, while its total revenues declined 9 percent for the firm's fiscal 2009 second quarter.

The molecular diagnostics maker generated total revenues of C$467,152 (US$423,727) for the three-month period ended April 30, compared to total revenues of C$516,109 for Q2 2008. Royalty revenues from Gen-Probe tripled to C$145,107 from C$46,591 year over year.

As part of an amended agreement with Gen-Probe during the quarter, DiagnoCure recorded a payment of C$148,400 — part of a US$500,000 Gen-Probe will pay in annual installments until certain milestones are met.

DiagnoCure's net loss declined to C$2.6 million, or C$.06 per share, from C$3.4 million, or C$.08 per share.

The Quebec City, Canada-based firm finished the quarter with cash, short-term investments, and long-term investments of C$14.1 million.

The Scan

Steps for Quick Review

The US Food and Drug Administration is preparing for the quick review of drugs and vaccines for the Omicron variant, according to the Wall Street Journal.

Moving Away From Using Term 'Race'

A new analysis finds that geneticists are using the term "race" in their papers less than in years past, as Science reports.

Point of the Program

The Guardian writes that some scientists have called the design of a UK newborn sequencing program into question.

Science Papers Present Multi-Omic Analysis of Lung Cells, Regulation of Cardiomyocyte Proliferation

In Science this week: a multi-omic analysis of lung cells focuses on RIT1-regulated pathways, and more.