Response Genetics Inc. (Nasdaq: RGDX), a company focused on the development and sale of molecular diagnostic tests for cancer, today announced its consolidated financial results and business progress for the full year and fourth quarter ended December 31, 2011.
Total revenue for the year ended December 31, 2011 increased to $22.6 million, compared to $21.3 million for the year ended December 31, 2010, an increase of 6.4 percent. The increase was due primarily to an increase in ResponseDX ® revenues which increased 11 percent to $12.5 million for the year ended December 31, 2011, compared to $11.3 million for the year ended December 31, 2010. The Company’s pharmaceutical client revenue increased to $10.1 million for the year ended December 31, 2011, compared to $10.0 million for the year ended December 31, 2010.
The Company’s net loss for the year ended December 31, 2011 was $5.7 million or a loss of $0.30 per share, compared with a net loss of $4.7 million, or a loss of $0.26 per share, for the year ended December 31, 2010.
Total revenue for the fourth quarter ended December 31, 2011 was $4.9 million, compared to $6.4 million for the same period in 2010. The decrease was primarily due to a decrease in pharmaceutical client revenue, with the majority of the decrease due to the near completion of the clinical trials conducted on behalf of GlaxoSmithKline. Revenue from ResponseDX ® genetic tests was approximately $3.1 million for the fourth quarter ended December 31, 2011, a slight increase over the comparable period in 2010 while pharmaceutical client revenue was approximately $1.8 million.The Company’s net loss for the fourth quarter ended December 31, 2011 was $3.9 million, or a loss of $0.21 per share, compared to a net loss of $1.1 million, or a loss of $0.06 per share, for the same period last year.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV