Diadexus, Inc. Announces Unaudited Earnings Results for the Third Quarter and Nine Months Ended September 30, 2015
October 26, 2015 at 04:19 pm EDT
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Diadexus, Inc. announced unaudited earnings results for the third quarter and nine months ended September 30, 2015. For the quarter, the company's total revenues were $4.5 million, compared to $4.6 million for the second quarter of 2015 and $7.3 million for the third quarter of 2014. The year-over-year decreases are primarily attributable to a decrease in service revenues related to a GSK agreement which completed during the fourth quarter of 2014 and lower PLAC ELISA product sales. The company's net loss for the quarter was $1.3 million, or $0.34 per basic and diluted share, compared to a net loss of $1.6 million, or $0.44 per basic and diluted share, in the third quarter of 2014. Loss from operations was $0.86 million compared with $0.94 million a year ago. Loss before income tax was $1.3 million compared with $1.6 million a year ago.
For the nine months, the company's total revenues were $14.6 million, compared to $20.5 million for the nine months ended September 30, 2014. This decrease is primarily attributable to $3.6 million in service revenues related to a GSK agreement which completed during the fourth quarter of 2014 and lower PLAC ELISA product sales. The company's net loss for the period was $5.7 million, or $1.47 per basic and diluted share, compared to a net loss of $6.2 million, or $1.68 per basic and diluted share, for the nine months ended September 30, 2014. Loss from operations was $4.3 million compared with $5.1 million a year ago. Loss before income tax was $5.6 million compared with $6.1 million a year ago.
Diadexus, Inc. is a diagnostics company. The Company is engaged in developing and commercializing products that deliver healthcare providers with relevant information to assist in the management of patients throughout the course of cardiac disease. Its capabilities include manufacturing, assay development, Food and Drug Administration (FDA) regulatory clearance, and marketing and selling products. Its commercially-available products consist of two FDA-cleared tests to measure Lp-PLA2: the PLAC Test ELISA Kit (the PLAC ELISA Test) and the PLAC Test for Lp-PLA2 Activity (the PLAC Activity Test). Its other products include proADM; proET-1, which aids in predication of heart failure, and proANP, which aids in predication of heart failure. The Company sells its diagnostic products to laboratories and promotes these products to the laboratories' sales representatives, as well as directly to healthcare providers.