NEW YORK – OraSure Technologies said on Tuesday that its revenues for the second quarter grew 39 percent year over year to a record $80.2 million, from $57.6 million a year ago. Diagnostic revenues for the quarter increased more than threefold to $60.5 million from $19.3 million, while molecular solutions revenues dropped 48 percent to $19.8 million from $38.3 million. The company posted a net loss of $18.8 million, or $.26 per share, compared to a net loss of $1.4 million, or $.02 per share, a year ago. EPS on an adjusted basis was breakeven. OraSure guided to third quarter revenues of between $90 million and $95 million. The firm exited Q2 with $66.2 million in cash and cash equivalents, and $29.6 million in short-term investments.
DermTech on Monday reported $4.2 million in second quarter revenues, up 36 percent from $3.1 million in the same quarter last year, driven by higher assay sales. Net loss for the quarter was $29.6 million, or $.99 per share, compared to a net loss of $17.1 million, or $.59 per share, for Q2 of 2021. DermTech lowered its guidance for 2022 assay revenues to between $16 million and $19 million. The company ended the quarter with $120.3 million in cash and cash equivalents, $53.5 million in short-term marketable securities, and $3.5 million in restricted cash.
Seegene on Friday reported an 11 percent year-over-year decrease in revenues for the first half of 2022 to KRW 579.9 billion ($446 million). The drop was due to a downturn in Q2 sales, to KRW 128.4 billion, associated with reduced PCR testing volume and inventory destocking at sales channels and customer accounts. Sales of non-COVID products increased 30 percent year over year in H1 to KRW 69.5 billion, the South Korean firm reported. The firm did not announce net income or net loss for H1 or its cash on hand.
Aspira Women’s Health said Wednesday that its revenues for the second quarter grew 17 percent to $2.1 million from $1.8 million a year ago. Product revenue from sales of its OVA1plus test was up 17 percent to $2.0 million from $1.7 million in Q2 2021. Revenue from the company’s genetic testing business was $48,000, down 39 percent from $79,000 the year before. Net loss for the quarter was $8.2 million, or $.07 per share, compared to $7.1 million, or $.06 per share, in Q2 2021. Aspira ended the quarter with $20.5 million in cash and cash equivalents.
Epigenomics on Wednesday reported €241,000 ($249,000) in revenues for the first half of 2022, up 8 percent from €223,000 in the first half of 2021. The German firm posted a net loss for the period of €4.0 million, or €.24 per share, compared to a net loss of €3.5 million, or €.41 per share, in the same period last year. Epigenomics continues to expect revenues between €300,000 and €800,000 in fiscal year 2022. The company said it assumes there will be a loss of more than half of the nominal share capital in the near future as the result of planned financial development. As of June 30, the firm had cash and cash equivalents of €18.0 million.
Sera Prognostics said on Wednesday that its second quarter revenues rose almost fourfold year over year to $78,000 from $20,000 a year ago. It missed the consensus Wall Street revenue estimate of $110,000. The company had a net loss of $11.5 million, or $.37 per share, compared to a net loss of $6.3 million, or $3.17 per share, a year ago and beat the consensus Wall Street estimate of a loss of $.41 per share. The firm, which went public in July 2021, used 30,945,616 shares to calculate its loss per share figure for the recently completed quarter compared to 1,988,886 shares used for the year-ago figure. As of June 30, Sera Prognostics had $53.9 million in cash and cash equivalents, $53.0 million in marketable securities, and $13.7 million in long-term marketable securities.
Co-Diagnostics reported on Thursday that its second quarter revenues declined 82 percent year over year to $5.0 million from $27.4 million in the year-ago period. The firm said the decrease was due to a decline in volumes for its Logix Smart COVID-19 test because of reduced mandated testing in travel and public venues and lower government funding for testing programs. Net loss in Q2 was $2.7 million, or $.08 per share, compared to net income of $9.8 million, or $.33 per share, in Q2 2021. Co-Diagnostics said it plans to address the decline in COVID sales by growing its international distributor network, expanding its infectious disease testing menu, and advancing its at-home and point-of-care testing platform. The company ended the quarter with $86.0 million in cash and cash equivalents and $10.0 million in marketable securities.
OpGen reported on Thursday that its Q2 2022 revenues grew 19 percent to $967,205 compared to $811,615 in Q2 of last year. Net loss for the quarter was $5.8 million, or $.13 per share, compared to a net loss of $7.1 million, or $.19 per share, in the same quarter in 2021. The company ended the quarter with $16.6 million in cash and cash equivalents. The firm said in a statement that it requested an additional 180 days to regain compliance with Nasdaq’s $1.00 minimum bid price rule and expects the decision by the end of the month. On Feb. 28, the company received notice that it no longer met the requirement and had until Aug. 29 to regain compliance.
Applied DNA Sciences reported on Thursday that its third quarter revenues of fiscal year 2022 grew 153 percent year over year, to $4.3 million, compared with $1.7 million in the same period last year. The increase was primarily due to growth in clinical laboratory service revenues from the safeCircle COVID-19 testing platform, which was partially offset by a decrease in sales of the Linea 1.0 COVID-19 assay kit and supplies. Net loss in fiscal Q3 was $1.1 million, or $.13 per share, compared to a net loss of $3.4 million, or $.48 per share, in the year-ago quarter. The company ended the quarter with $4.7 million in cash and cash equivalents. It subsequently raised gross proceeds of $12 million in a public offering and $3.6 million from warrant exercises on Aug. 8.
Cytek Biosciences said on Wednesday that its second quarter revenues increased 32 percent year over year to $40.2 million from $30.4 million in the year-ago quarter. Product revenue was $37.1 million, up 29 percent from $28.7 million last year, and service revenue totaled $3.1 million, up 82 percent from $1.7 million a year ago. The cell analysis company’s net loss for Q2 was $700,000 compared to net income of $2.7 million in Q2 of 2021. Cytek ended the quarter with $349.9 million in cash and cash equivalents.
ProPhase Labs on Thursday reported $29.1 million in revenues for the second quarter of 2022, up more than three times from $9.1 million in the year-ago quarter. The increase was due to a $18.6 million rise in revenues from diagnostic services, in particular COVID-19 testing, and a $1.3 million increase in sales of consumer products. Net income for the quarter was $7.4 million, or $.40 per share, compared to a net loss of $1.4 million, or $.09 per share, in the same quarter last year. The company said it plans to expand its high complexity molecular diagnostics lab to include clinical testing and to expand its menu of traditional tests. It also plans to build a genetics lab to perform whole-genome sequencing and other genetic diagnostic tests, both for clinical use and for research. ProPhase ended the quarter with $24.0 million in cash and cash equivalents and $3.5 million in marketable securities.