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NEW YORK (360Dx) – Chembio Diagnostics reported after the close of the market on Wednesday a 24 percent increase in total revenues, paced by a 45 percent spike in product sales.

For the three months ended June 30, the point-of-care infectious disease diagnostics firm posted $4.1 million in total revenues, up from $3.3 million in Q2 2016. Net product sales rose to $2.9 million from $2.0 million. License and royalty revenues also rose sharply to $227,635 from $33,895 a year ago, while R&D, milestone, and grant revenues declined 17 percent to $994,237 from $1.2 million.

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