Skip to main content
Premium Trial:

Request an Annual Quote

Informax Q3 Revenues Surge 155% While Losses Widen

NEW YORK, Nov. 9 –Strong sales of Informax’s Vector NTI suite and Genomax enterprise platform sparked a 155 percent jump in the company’s third quarter 200 revenues amid widening losses, the company reported Thursday.


Informax reported third quarter revenues of $4.9 million, compared to $1.9 million for the year-ago quarter, while its losses increased to $2.2 million versus $.7 million for the third quarter of 1999.


" During the third quarter and nine months, we achieved strong growth in our customer base for the Vector NTI Suite for desktop computers and continued to see rapid acceptance of our more powerful Genomax enterprise platform," said Informax CEO Alex Titomirov in a statement. " Our goal in the coming year is to further cement and leverage our position as the leading supplier of bioinformatic tools to the genomic revolution."


Titomirov predicted about $5 million in revenues for the fourth quarter of 2000, and said revenues would significantly increase in 2001. “After a year of intense building, Informax is targeting 90% revenue growth for the coming year,” Titomirov said in a statement.


Informax also reported that its operating expenses for the quarter increased to $6.4 million, from $2.6 million for the third quarter of 1999. This increase was largely accounted for by a rise in sales and administrative costs to $ 4.6 million, from $1.9 million for the year-ago period. But the company's R & D expenses also rose to $1.35 million, from $.6 million for the previous third quarter.


Informax reported cash assets of only  $7.8 million, but this figure does not take into account the $85.6 million in net proceeds raised during the initial public offering, which it completed October 2 nd , just after the close of the quarter.


Informax entered into several significant partnerships during the quarter. In August it announced it would jointly develop a new version of Genomax with Amersham Pharmacia Biotech.


Then in September, it teamed up with Incyte in an agreement that will allow researchers to search some of Incyte’s databases through Vector NTI, and agreed to distribute Structural Bioinformatics’ three-dimensional protein structure database.
The Scan

Lung Cancer Response to Checkpoint Inhibitors Reflected in Circulating Tumor DNA

In non-small cell lung cancer patients, researchers find in JCO Precision Oncology that survival benefits after immune checkpoint blockade coincide with a dip in ctDNA levels.

Study Reviews Family, Provider Responses to Rapid Whole-Genome Sequencing Follow-up

Investigators identified in the European Journal of Human Genetics variable follow-up practices after rapid whole-genome sequencing.

BMI-Related Variants Show Age-Related Stability in UK Biobank Participants

Researchers followed body mass index variant stability with genomic structural equation modeling and genome-wide association studies of 40- to 72-year olds in PLOS Genetics.

Genome Sequences Reveal Range Mutations in Induced Pluripotent Stem Cells

Researchers in Nature Genetics detect somatic mutation variation across iPSCs generated from blood or skin fibroblast cell sources, along with selection for BCOR gene mutations.