NEW YORK (GenomeWeb News) – Response Biomedical today reported an 18 percent drop in total revenues for the second quarter as contract service fees and revenues from collaborative research arrangements took a 79 percent hit.
For the three months ended June 30, the company posted revenues of $2.3 million, down from $2.7 million a year ago, while contract service fees and collaborative research-based revenues dropped to $143,089 from $668,221 in Q2 2009.