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In Brief This Week: SomaLogic, Centogene, Yourgene, Epigenomics, Biodesix, More

NEW YORK – SomaLogic said this week that Tokyo-based FonesLife will be the firm's first certified site in Japan. FonesLife will offer the SomaScan assay in their labs and provide data to customers, as well as run assays on the SomaScan platform on their own. 

"SomaScan data can now be produced in Japan, which gives us faster results and makes it possible to work with samples that are difficult to take out of the country," FonesLife CEO Naoto Egawa said in a statement. "Our goal is to dramatically expand our business as a scientific service provider in the expanding Asian market." 

Centogene said this week that its second quarter revenues grew 22 percent to €11.2 million ($11.9 million) from $9.2 million a year ago. Revenues in its diagnostics segment were up 18 percent year over year to €7.5 million, while pharmaceutical segment revenues rose 29 percent to €3.7 million. The rare disease firm, which has offices in Rostock, Germany and Cambridge, Massachusetts, had a net loss from continuing operations for the three months ended June 30 of €11.9 million, or €.44 per share, compared to a net loss from continuing operations of €13.5 million, or €.61 per share, a year ago. Centogene had cash and cash equivalents of €33.5 million at the end of Q2.

Yourgene this week said that total revenues for the first half of its fiscal year 2023 ended Sept. 30 were down 45 percent year over year to £9.6 million ($10.2 million) from £17.5 million. Not including its COVID-19-related business, revenues grew 13 percent year over year to £7.9 million from £7.0 million. The UK firm posted a gross profit of £5.2 million for the first six months of 2022, down from £10.2 million a year ago. It had cash and cash equivalents of £2.4 million at the end of H1 2023. 

Yourgene also said that it has raised gross proceeds of £6.4 million through the placement of 1,635,000,001 placing shares and the issuance of 383,333,332 director subscription shares and 116,666,667 new ordinary shares. The issue price for the placing and director subscriptions were .30 pence per share. The proceeds will be used for near-term working capital and to facilitate further restructuring of the firm to save costs, it said. 

Lastly, the company announced a retail offer of its ordinary shares for up to £1.0 million at an issue price of .30 pence per retail share. Separately, Yourgene is also placing new ordinary shares through an accelerated book-build process and subscriptions for new ordinary shares. 

Epigenomics this week said that it has changed its adjusted loss before interest, taxes, depreciation, and amortization for the current fiscal year 2022. The company now expects its loss to be in the range of 10.2 million ($10.8 million) to €10.8 million, down from a previous range of 10.5 million to 11.5 million. The change is due to lower costs, including lower study costs for the prospective US Food and Drug Administration pivotal study for its liquid biopsy test for colorectal cancer. 

Epigenomics also said its cash consumption is now expected to be between €13.5 million and €14.0 million. It previously said cash consumption for 2022 was expected to be between €14.5 million and €15.5 million. Revenues are still expected to be between €300,000 and €800,000, it said. 

Biodesix said this week it secured coverage from four insurers for the firm's Nodify XL2 test, a blood-based proteomic assay for identifying patients who have benign lung nodules and are likely to benefit from computed tomography surveillance. The test will be covered by the Blue Cross Blue Shield Association companies for North Carolina, South Carolina, and Kansas City and Capital District Physician's Health Plan of New York, effective Q4 2022. 

AnPac Bio-Medical Science this week reported a 44 percent year-over-year decrease in its first-half revenues. The firm booked RMB 5.2 million ($778,000) in the six months ending June 30, down from RMB 9.3 million in the year-ago half. Earlier this year, AnPac had reported a 10 percent year-over-year decline in revenues in the first quarter, to RMB 2.0 million from RMB 2.2 million in Q1 2021, and the firm did not provide separate Q2 figures when reporting results for the half. Net loss for the half was RMB 48.8 million, compared to a net loss of RMB 57.7 million in the same period of 2021. R&D costs totaled RMB 4.3 million, down from RMB 5.6 million in the year-ago half. As of June 30, the firm had RMB 6.9 million in cash and cash equivalents. 

Gradientech said this week it was issuing a SEK 50 million ($4.8 million) rights offering from Dec. 27 through Jan. 18, 2023. Under the terms of the transaction, Gradientech is distributing preferential subscription rights to holders of its common stock. Each share entitles the holder to one subscription right at SEK 20.50 per share, and 13 subscription rights entitle the holder to two additional shares. The firm said the rights offering would enable investments in sales and marketing, production of market-approved instruments and tests, production scale-up, and clinical studies in the US. 

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.