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Cancer Genetics Reports Record Q3 Revenue

04:33 EST 9 Nov 2017 | Genetic Engineering News

Precision medicine for oncology firm Cancer Genetics (CGI) today reported its third quarter results for 2017. According to the company, total revenues were $8.0 million—up 19% over Q3 2016 revenues of $6.8 million—with $4.2 million from biopharma services (up 10% since the same period last year), $2.9 million from clinical services (up 7%) and $1.0 million from discovery services (up 280%).   “We are pleased to have delivered a record quarter of revenue along with a significant bottom-line improvement, and are committed to achieving profitability in the near-term,” said Panna Sharma, president and CEO of CGI.   According to the report, the company’s gross profit margin increased to 42.9%, up from 34.2% in Q3 2016. And its operating loss improved 21% from the same quarter last year (from $4.0 million to $3.2 million). A large part of CGI’s success comes from its 191 current biopharma ...

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