NEW YORK (GenomeWeb News) – BG Medicine today reported third quarter revenues of $695,000, down 31 percent from $1 million in the third quarter of 2013.

The decline was due almost entirely to a drop in product revenues from sales of the company's BGM Galectin-3 test, which fell to $695,000 in the quarter, down 31 percent percent from $1 million in Q3 2013. BG reported no revenues from its service business for the most recent quarter compared to $23,000 a year ago.

The company's revenues fell short of the Wall Street consensus estimate of $800,000.

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