NEW YORK – Aspira Women's Health this week reported its fourth quarter revenues dropped about 5 percent to $2.1 million from $2.2 million a year ago. While product revenues were essentially flat year over year at $2.1 million, genetics revenues slipped to none in the recently completed quarter from $73,000 a year ago. The company had a net loss of $3.1 million, or $.30 per share, in Q4 2023 compared to a net loss of $4.6 million, or $.55 per share a year ago.
For full-year 2023, Aspira's revenues rose 12 percent to $9.2 million from $8.2 million in 2022. Product revenues grew to $9.1 million from $8.0 million while genetics revenues fell to $1,000 from $214,000 in 2022. The firm had a net loss of $16.7 million, or $1.81 per share, in 2023 compared to a net loss of $29.9 million, or $3.85 per share, a year ago.
The company had $2.6 million in cash and cash equivalents at the end of 2023.
Accelerate Diagnostics said this week hat its fourth quarter revenues were flat year over year at $3.0 million. For Q4 2023, the firm reported a net loss of $13.0 million, or $.89 per share. Its R&D spending for the three months ended Dec. 31, 2023, was cut to $5.6 million from $6.0 million a year ago, while its SG&A costs were lowered to $5.8 million from $8.8 million a year ago.
In full-year 2023, Accelerate posted net sales of $12.1 million, down 5 percent from $12.8 million in 2022. The company had a net loss of $61.6 million, or $4.94 per share, compared to a net loss of $62.5 million, or $7.61 per share, in 2022. Accelerate trimmed its R&D costs to $25.4 million from $26.9 million in 2022 and cut its SG&A costs to $31.2 million from $39.2 million.
The company exited 2023 with $12.1 million in cash and cash equivalents, and $1.1 million in investments.
Biodesix said this week that it has entered into a new master collaborative research agreement with Memorial Sloan Kettering Cancer Center under which investigators will collaborate on a development plan for diagnostic tests aimed at improving the treatment of cancer. The new deal expands on a previous sponsored research agreement between Biodesix and MSK. Bio-Rad is also participating by providing its digital PCR technology.
The collaborators, represented by MSK oncologist Howard Scher and Biodesix's Gary Pestano, shared an update on their work at the Precision Medicine Tri-Conference this week.:
Singapore-based cytology firm X-Zell said this week that its platforms X-Zell Cryoimmunostaining Suite and X-Zell Hybrid Microscope are now listed with the US Food and Drug Administration and the EU's Eudamed database. Both platforms leverage X-Zell's next-generation cytology (NGC) technology, and listing with the FDA and Eudamed makes them available for use in the US and Europe. X-Zell NGS is designed for minimally invasive samples, including body liquids or fine-needle aspirations, and can shorten the time to diagnose from about two days on average to less than four hours by eliminating 95 percent of the preparation work needed with immunohistochemistry, X-Zell said.
T2 Biosystems said this week that it has extended a capital equipment supplier agreement with Vizient through March 31, 2025. Products covered by the deal include the T2Dx Instrument, the T2Bacteria Panel, and the T2Candida Panel. Vizient members will continue to have broader exposure and contracted pricing for those three products, T2 Bio said.
Women's health company Inex Innovate said this week that the Singapore Health Sciences Authority has approved the company's OvaCis test for discriminating benign from malignant ovarian cysts. OvaCis is also CE-marked and registered with the UK's Medicines and Healthcare Products Regulatory Agency. The point-of-care test provides results within 15 minutes, said Inex, a spinout of the National University of Singapore.
In Brief This Week is a selection of news items that may be of interest to our readers but had not previously appeared on 360Dx.