NEW YORK – Centogene said this week that it received a letter from the Nasdaq in late March telling the company that it was not in compliance with the exchange's minimum bid price requirement of a closing bid price on its common stock of at least $1 for 30 consecutive business days. Centogene has 180 days to regain compliance by having its share price close at or above $1 per share for at least 10 consecutive business days. In February, Centogene received a similar note from the Nasdaq relating to noncompliance with the market's requirement for a minimum market value of at least $15 million.
Burning Rock Biotech reported last week fourth quarter 2023 revenues of RMB121.1 million ($17.1 million), down 15 percent from RMB142.2 million for the same period in 2022. Revenue generated from its central laboratory business was RMB51.3 million for the three months ended December 31, representing a 29 percent drop from RMB72.0 million in the year-ago quarter.
Revenue generated from the firm's in-hospital business was down 32 percent at RMB28.8 million compared to RMB42.5 million in Q4 2022. Burning Rock's revenue from pharma research and development services was RMB41.0 million in Q4, up 48 percent from RMB27.7 million in the same quarter of 2022. The firm's operating expenses dropped 23 percent to RMB244.4 million from RMB318.7 million.
The firm's Q4 net loss was RMB162.2 million, or RMB1.58 per share, compared to RMB216.2 million, or RMB2.11 per share, for the same period in 2022.
For the full year, Burning Rock reported revenues of RMB537.4 million, down about 5 percent from RMB563.2 million for 2022. Central lab revenues were down 26 percent to RMB232.8 million from RMB314.8 million in 2022, while hospital testing revenues were up nearly 8 percent for the year to RMB188.7 million from RMB 175.3 million. Pharma research contributed RMB115.9 million, up 58 percent from RMB73.2 million in 2022. Operating expenses for the full year were down 24 percent at RMB1.03 billion compared to RMB1.36 billion.
The company's full-year net loss was RMB653.7 million, or RMB6.38 per share, compared to RMB971.2 million, or RMB9.35 per share, for 2022.
Burning Rock ended 2023 with RMB615.1 million in cash, cash equivalents, and RMB120,000 in restricted cash.
Sophia Genetics and Bangalore, India-based Strand Life Sciences said this week they have entered into a global strategic partnership to provide technologies and services to companies in the precision medicine space. Under the partnership, Sophia will provide support via its decentralized Sophia DDM multimodal data-analysis platform and Strand via its curated variant databases and bioinformatics solutions expertise. The companies also said that they will codevelop tests, among other initiatives.
Prenetics said this week that its revenues from continuing operations grew 93 percent year over year to $5.4 million from $2.8 million. It posted a loss from continuing operations of $18.6 million, or $1.49 per share, for the three months ended Dec. 31, 2023, compared to a loss of $13.1 million, or $2.07 per share, in Q4 2022. The company, which went public in May 2022, used 12.1 million shares to calculate its loss per share figure in the recently completed quarter compared to 7.7 million shares a year ago.
Its R&D costs grew to $2.6 million from $1.5 million a year ago, while its SG&A spending increased to $12.3 million from $12.1 million.
The Hong Kong-based genomics testing firm's full-year 2023 revenues rose 64 percent to $21.7 million from $13.2 million in 2022. It trimmed its loss from continuing operations to $56.4 million, or $4.83 per share, last year from $225.6 million, or $44.50 per share, a year ago. Prenetics used 11.2 million shares to calculate its loss per share figure in 2023 compared to 5.1 million shares in 2022.
Its R&D spending nearly doubled year over year to $11.7 million from $6.0 million, while its SG&A costs shrank to $49.7 million from $64.1 million.
Prenetics finished 2023 with $45.7 million in cash and cash equivalents and $16.0 million in short-term deposits.
Trinity Biotechnology said this week that its fourth quarter revenues declined 15 percent to $13.4 million from $15.7 million a year ago. Clinical laboratory revenues slipped to $11.3 million for the three months ended Dec. 31, 2023, from $13.1 million a year earlier, while point-of-care revenues contracted to $2.1 million from $2.7 million. The Dublin-based firm posted a loss of $5.5 million, or $.72 per share, compared to a loss of $10.1 million, or $1.32 per share, a year ago.
For full-year 2023, the firm's revenues slid 9 percent to $56.8 million from $62.5 million in 2022. Clinical laboratories dropped to $47.7 million from $53.3 million a year ago, while point-of-care revenues fell slightly to $9.1 million from $9.2 million. The firm's loss for 2023 was $24.0 million, or $3.14 per share, compared to a loss of $41.0 million, or $$6.08 per share, in 2022.
Trinity Bio ended 2023 with $3.7 million in cash and cash equivalents. It is targeting annualized run-rate revenues of about $75 million by Q2 2024 on growth in the hemoglobin testing and HIV testing, and other businesses, it said.
Viome said this week that it inked a distribution deal with Henry Schein for its Oral Health Pro With CancerDetect laboratory-developed test for early biomarkers of oral and throat cancers. Dental professionals can now purchase Viome’s collection kits directly from Henry Schein, which will ship them to the dental practice, where saliva samples will be collected and registered with Viome online, then sent to Viome’s CLIA lab for testing.
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.