financial results

The German diagnostics firm recently signed an agreement to be acquired by US-based OpGen in a transaction that is slated to close in early 2020.

The Belgian oncology molecular diagnostics firm reported a 17 percent increase in product sales but said that sales of cartridges in the US were lower than expected. 

The company reported $10.7 million in total revenues for the quarter and said test report volume for its DecisionDx-Melanoma test grew 27 percent.

Of the 27 companies in the index, 14 firms' stocks were down, while 13 companies' share prices increased.

For the six-month period ended June 30, the molecular diagnostic company's revenues fell to $10.9 million from $17.2 million in H1 2018.

The firm moved closer to commercializing its lung transplant test, and it was notified by New York State that it could begin testing patient samples using its DTC celiac disease test.

Trinity Biotech said that the decline in point-of-care revenues reflects lower sales in its two key geographic markets, Africa and the US.

The revenues come entirely from CGI's discovery services as its divested biopharma services and clinical lab units were considered discontinued operations.

The firm, which is working to reaccelerate its test validation effort, incurred a loss of $5.4 million, or $.10 per share, slightly above the analysts' consensus estimate.

The firm's diagnostics and genomics group saw an 11 percent year-over-year revenue increase in the third quarter.