This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

BG Medicine Reports Fourth Quarter And Full Year 2012 Financial Results And Provides 2013 Outlook

  • Q4 Revenues nearly triple from Q4 2011
  • Product margins increase 10% from Q4 2011
  • January 2013 $12.8 million public offering supplements Q4 2012 cash of $13.2 million
  • bioMérieux obtains CE mark for VIDAS Galectin-3 test
  • CardioSCORE CE mark obtained

WALTHAM, Mass., March 13, 2013 (GLOBE NEWSWIRE) -- BG Medicine, Inc. (Nasdaq:BGMD), a diagnostics company focused on the development and commercialization of novel cardiovascular tests, today reported financial results for the fourth quarter and full year ended December 31, 2012 and provided an update on its progress in expanding the commercial adoption of its innovative diagnostic tests for cardiovascular disease.

Product revenue from the BGM Galectin-3® test was $1.0 million in the fourth quarter of 2012, compared to $0.3 million in the same period in 2011. Total revenues increased to $1.1 million in the fourth quarter of 2012 compared to $0.4 million in the same period in 2011. Product margin was 70% in the fourth quarter of 2012, up from 60% in the fourth quarter of 2011.

Net loss for the quarter was $2.9 million compared with a loss of $4.7 million in the fourth quarter of 2011. The $1.8 million year over year decrease results primarily from an adjustment of accrued R&D expenses.

Basic and diluted net loss per share attributable to common shareholders was $0.14 in the fourth quarter of 2012, compared with basic and diluted net loss per share of $0.23 for the same period of 2011.

At December 31, 2012, the Company had cash and cash equivalents totaling approximately $13.2 million. In January 2013, the Company closed a public offering of 6,900,000 shares of common stock, netting proceeds of approximately $12.8 million, after offering expenses and underwriting discounts and also entered into a $12 million common stock purchase agreement with Aspire Capital Fund, LLC.

1 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,798.49 -14.90 -0.08%
S&P 500 2,090.11 +1.24 0.06%
NASDAQ 5,127.5250 +11.3820 0.22%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs