Response Genetics, Inc Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014
November 13, 2014 at 07:07 am EST
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Response Genetics Inc. announced unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2014. For the quarter, the company reported net revenue was $4,092,277 compared to $4,464,991 for the same period a year ago. Operating loss was $2,737,287 compared to $3,354,485 for the same period a year ago. Net loss was $2,718,126 or $0.08 per basic and diluted share compared to $3,643,946 or $0.09 per basic and diluted share for the same period a year ago. The increase in total revenue was from higher ResponseDX sales offset by lower pharmaceutical client revenue, which can vary significantly on a quarterly basis by its very nature and concentration.
For the nine months, the company reported net revenue was $15,030,382 compared to $12,641,160 for the same period a year ago. Operating loss was $4,794,185 compared to $9,939,803 for the same period a year ago. Net loss was $4,839,585 or $0.15 per basic and diluted share compared to $10,287,300 or $0.27 per basic and diluted share for the same period a year ago.
Response Genetics, Inc. is a life science company. The Company is engaged in the research, development, marketing and sale of pharmacogenomic tests for use in the treatment of cancer. To generate pharmacogenomic information from patient specimens for these tests, the Company uses its own methods for the extraction and analysis of nucleic acids and accessing the genetic information available from each patient sample. The Company's platforms include analysis of single biomarkers using the polymerase chain reaction method, as well as gene interrogation using microarray methods and fluorescence in situ hybridization (FISH) from paraffin or frozen tissue specimens. The Company is engaged in selling ResponseDX diagnostic testing products. The Company provides pharmacogenomic clinical trial testing services to pharmaceutical companies in the United States, Asia and Europe.
RESPONSE GENETICS, INC 
