NEW YORK (360Dx) – Akers Biosciences this week reported 2016 revenues of $3 million, up 40 percent from $2.1 million in 2015, driven by an 85 percent year-over-year increase in sales of its heparin allergy test.
The firm reported a net loss of $3.3 million, or $0.61 per share, down 65% from a loss of $9.3 million, or $1.81 per share, in 2015.
Its R&D expenses were $1.2 million, down 15 percent from $1.4 million in 2015, and its SG&A expenses were $5.1 million, down 22 percent from $6.5 million in the prior year.
At the end of 2016, the company had cash and marketable securities of $122,701. However, as of April 5, 2017, it had cash and marketable securities of approximately $2.3 million. The firm noted that its cash position has been strengthened by net proceeds of about $1.7 million from a public offering in January and $1.8 million from a private placement in March 31.
Bioké said this week that it has signed an agreement to become the exclusive distributor of Bethyl Laboratories’ products in Belgium, the Netherlands, and Luxembourg. Bethyl’s portfolio currently consists of more than 7,150 catalog products, including about 5,700 primary antibodies targeting over 2,700 proteins, and 1,450 secondary antibodies raised against immunoglobulins from more than 25 species.
Sygnis announced that it has completed the integration of life sciences tools firm CBS Scientific, which Sygnis acquired in December 2016. As part of the integration, Sygnis consolidated the former sites of Expedeon and CBS, which are both located in San Diego. As of March 31, all teams had been integrated and are now fully operational, the firm said. CBS products will now also be sold through Sygnis’ sales force.
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