NEW YORK (GenomeWeb News) – GeneNews reported after the close of the market on Wednesday a sharp increase in revenues driven by royalty revenues.

For the three months ending March 31, revenues reached C$48,348 (US$47,538), up more than seven-fold from C$6,477 during the first quarter of 2012, the Toronto-based molecular diagnostics company said in a document filed with Canadian regulators.

The uptick resulted from C$47,436 in royalty revenues, compared to zero a year ago. Sales were down to C$912 from C$6,477.

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