NEW YORK (360Dx) – Chembio Diagnostics said after the close of the market on Wednesday that its total revenues grew 22 percent year over year, as its product revenues jumped 19 percent.

For the three months ended March 31, total revenues reached $7.7 million, up from $6.3 million in Q1 2017. Product revenues rose to $6.4 million from $5.4 million, while license and royalty revenues more than doubled to $201,931 from $100,000, and R&D, milestone, and grant revenues increased 38 percent to $1.1 million from $797,740.

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