Skip to main content
Premium Trial:

Request an Annual Quote

WaferGen Q3 Revenues Nearly Double

NEW YORK (GenomeWeb News) – WaferGen Bio-system's third-quarter revenues almost doubled year over year, the company said in its quarterly earnings document filed with the US Securities and Exchange Commission on Friday.

The Fremont, Calif.-based firm said that revenues reached $176,608 during the quarter, compared to $89,088 a year ago. In its Form 10-Q, WaferGen said that the increase was driven primarily from the sale of an open platform real-time PCR system, but that growth was offset by a reduction in sales of its real-time PCR Chip panels.

It also said that it recognized $168,560 in government subsidies in Q3 2012 resulting from an agreement it signed with the Luxembourg government. WaferGen had no government subsidies in the year-ago period.

The firm's R&D spending in the quarter was down 32 percent year over year to $1.3 million from $1.9 million, resulting from a reduction in headcount and the reduced use of expensed materials and reagents. As of Nov. 7, WaferGen had 31 employees, including 30 full-time workers, it said.

Its SG&A costs were lowered to $740,958 from $2.2 million as personnel costs were reduced and sales and marketing efforts were scaled back.

The company posted a net loss of almost $3.0 million, or $.08 per share, compared to a profit of $3.6 million, or $.03 per share, a year ago, as it posted a loss of $385,209 on the revaluation of derivative liabilities in the recently completed quarter, compared to a gain of $8.6 million for such revaluation a year ago.

WaferGen exited the third quarter with $7.6 million in cash and cash equivalents.

The Scan

Just Breathing

A new analysis suggests that most Mycobacterium tuberculosis is spread by aerosols from breathing, rather than by coughing, the New York Times reports.

Just Like This One

NPR reports that the World Health Organization has hired a South African biotech company to recreate mRNA vaccine for SARS-CoV-2 that is similar to the one developed by Moderna.

Slow Start

The Wall Street Journal reports that Biogen's Alzheimer's disease treatment had revenues for July through September that totaled $300,000.

Genome Research Papers on Cancer Chromatin, Splicing in the Thymus, Circular RNAs in Cancer

In Genome Research this week: analysis of bivalent chromatin sites, RBFOX splicing factors' role in thymic epithelial cells, and more.