Skip to main content
Premium Trial:

Request an Annual Quote

Cepheid Q1 Revenues Rise 9 Percent

NEW YORK (GenomeWeb) — Cepheid said after the close of the market Thursday that its first quarter revenues grew 9 percent year over year.

For the quarter ended March 31, the molecular diagnostics firm reported total revenues of $144.8 million, up from $132.6 million in the comparable quarter a year ago, and beating average analysts' estimates of $140.2 million. On a constant-currency basis, Q1 revenues grew 13 percent year over year.

Cepheid previously grouped revenues into three categories: clinical systems, clinical reagents, and non-clinical and other. Revenues today were reported as systems and other and reagents and disposables.

Cepheid said that systems and other revenue increased 30 percent year over year to $24.3 million from $18.7 million in Q1 2015. Reagents and disposables, meantime, grew 6 percent to $120.5 million from $113.9 million.

Cepheid delivered the 10,000th GeneXpert system in the quarter, up from a cumulative total of 8,321 GeneXpert systems worldwide in the first quarter of 2015.

During the quarter Cepheid released the Xpert Carba-R in the US and the next generation of its Xpert MRSA test internationally.

Cepheid reported a net loss of $6.6 million, or $0.9 per share, compared to a net income of $906,000, or $.01 per share a year ago. On an adjusted basis, net income for the quarter was $6.3 million, or $.08 per share. On average, analysts had estimated a gain of $.01 per share.

The company's R&D expenses totaled $29.9 million, up about 25 percent from $24.0 million in the year-ago period, while SG&A expenses rose 6 percent to $43.9 million from $41.5 million.

Cepheid ended the quarter with $89.8 million in cash and cash equivalents, and $202.5 million in short-term investments.

The firm also reiterated its full-year 2016 revenue guidance to a range of $618 million to $635 million and a net loss in a range of $.57 to $.51 per share. Adjusted EPS is expected to be between $.22 and $.28 per share.

The Scan

Positive Framing of Genetic Studies Can Spark Mistrust Among Underrepresented Groups

Researchers in Human Genetics and Genomics Advances report that how researchers describe genomic studies may alienate potential participants.

Small Study of Gene Editing to Treat Sickle Cell Disease

In a Novartis-sponsored study in the New England Journal of Medicine, researchers found that a CRISPR-Cas9-based treatment targeting promoters of genes encoding fetal hemoglobin could reduce disease symptoms.

Gut Microbiome Changes Appear in Infants Before They Develop Eczema, Study Finds

Researchers report in mSystems that infants experienced an enrichment in Clostridium sensu stricto 1 and Finegoldia and a depletion of Bacteroides before developing eczema.

Acute Myeloid Leukemia Treatment Specificity Enhanced With Stem Cell Editing

A study in Nature suggests epitope editing in donor stem cells prior to bone marrow transplants can stave off toxicity when targeting acute myeloid leukemia with immunotherapy.