Update (4:45 p.m.): Updated with Thursday market close information.
BG Medicine reported a loss of 6 cents a share, which beat the Capital IQ consensus estimate of a loss of 12 cents a share. Revenue also increased 7% year over year to $1.15 million, which edged analysts' estimates of $1.1 million.
President and CEO Paul R. Sohmer M.D. said the company expects "to increase our revenues and decrease our operating cash burn as compared to 2013" in the company's press release.
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The company also announced it received Tuesday a patent from the United States Patent and Trademark Office covering Galectin-3 testing for Cardiac Resynchronization Therapy.
The stock closed at $1.92, up 13.61% or 23 cents from its previous close of $1.69. More than 13.7 million shares traded hands, well above the average of 1,641,810. The stock hit a low of $1.88 for the day and holds a one-year low of 55 cents.