Diadexus, Inc. Announces Unaudited Consolidated Earnings Results for Second Quarter and Six Months Ended June 30, 2015; Rescinds Revenue Guidance for 2015
August 13, 2015 at 04:18 pm EDT
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Diadexus, Inc. announced unaudited consolidated earnings results for second quarter and six months ended June 30, 2015. For the quarter, the company reported total revenues of $4,571,000, loss from operations of $2,886,000, loss before income tax of $3,345,000, net loss of $3,348,000 or $0.87 per basic and diluted share compared to the total revenues of $7,676,000, loss from operations of $249,000, loss before income tax of $441,000, net loss of $441,000 or $0.12 per basic and diluted share for the same quarter a year ago. The decrease in total revenues is primarily attributable to lower PLAC ELISA product sales and a decrease in service revenues related to a GSK agreement which completed during the fourth quarter of 2014.
For the six months period, the company reported total revenues of $10,098,000, loss from operations of $3,394,000, loss before income tax of $4,304,000, net loss of $4,318,000 or $1.13 per basic and diluted share compared to the total revenues of $13,111,000, loss from operations of $4,117,000, loss before income tax of $4,529,000, net loss of $4,541,000 or $1.24 per basic and diluted share for the same period a year ago. The decrease in total revenues is primarily due to lower PLAC ELISA product sales and a decrease in service revenues related to a GSK agreement, which completed during the fourth quarter of 2014.
Due to the Health Diagnostics Laboratory bankruptcy, and the accompanying uncertainty around their ongoing business operations, the company is rescinding its previously stated revenue guidance for 2015. The Company will not be providing an outlook for 2015 at this time.
Diadexus, Inc. is a diagnostics company. The Company is engaged in developing and commercializing products that deliver healthcare providers with relevant information to assist in the management of patients throughout the course of cardiac disease. Its capabilities include manufacturing, assay development, Food and Drug Administration (FDA) regulatory clearance, and marketing and selling products. Its commercially-available products consist of two FDA-cleared tests to measure Lp-PLA2: the PLAC Test ELISA Kit (the PLAC ELISA Test) and the PLAC Test for Lp-PLA2 Activity (the PLAC Activity Test). Its other products include proADM; proET-1, which aids in predication of heart failure, and proANP, which aids in predication of heart failure. The Company sells its diagnostic products to laboratories and promotes these products to the laboratories' sales representatives, as well as directly to healthcare providers.
Diadexus, Inc. Announces Unaudited Consolidated Earnings Results for Second Quarter and Six Months Ended June 30, 2015; Rescinds Revenue Guidance for 2015