DiaDexus, Inc. Announces Unaudited Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014 Provides Revenue Guidance for the Full Year of 2014
November 06, 2014 at 02:30 am IST
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diaDexus, Inc. announced unaudited earnings results for the third quarter and nine months ended September 30, 2014. For the quarter, the company reported total revenues of $7,344,000 compared with $6,390,000 for the same period a year ago. This 15% increase in total Revenue was from service revenue from the first and second phases of the laboratory services contract with GSK. Loss from operations was $938,000 compared with $255,000 for the same period a year ago. Loss before income tax was $1,618,000 compared with $354,000 for the same period a year ago. Net loss was $1,619,000 or $0.03 per basic and diluted share compared with $354,000 or $0.01 for the same period a year ago.
For the nine months, the company reported total revenues of $20,455,000 compared with $18,162,000 for the same period a year ago. Loss from operations was $5,055,000 compared with $2,030,000 for the same period a year ago. Loss before income tax was $6,147,000 compared with $1,965,000 for the same period a year ago. Net loss was $6,160,000 or $0.11 per basic and diluted share compared with $1,970,000 or $0.04 per basic and diluted share for the same period a year ago.
The company provided revenue guidance for the full year of 2014. For the full year 2014, the company currently expects total revenues in the range of $26 to $28 million. This change is due primarily to the previously disclosed industry-wide impact from new, more restrictive guidance issued to cardiovascular testing facilities by the Office of the Inspector General in June 2014.
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 Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014 Provides Revenue Guidance for the Full Year of 2014