Response Genetics Q2 net loss slightly increases

Fri. August 14, 2009; Posted: 01:13 PM

Aug 14, 2009 (Datamonitor via COMTEX) -- RGDX | Quote | Chart | News | PowerRating -- Response Genetics, a developer of diagnostic tests for cancer, has reported a net loss of $2.4 million or $0.19 per share, for the second quarter of 2009, compared to a net loss of $2.2 million, or $0.21 per share, for the second quarter of 2008.

The company has reported total revenues of $1.9 million, for the second quarter of 2009, compared to $1.82 million for same period of 2008.

Response Genetics has reported a net loss of $5.64 million or $0.49 per share, for the first half of 2009, compared to a net loss of $3.9 million, or $0.38 per share, for the same period of 2008.

The company has reported total revenues of $3.43 million, for the first half of 2009, compared to $3.73 million for the same period of 2008.

Kathleen Danenberg, president and CEO of Response Genetics, said: "We are pleased to see that ResponseDX revenue is beginning to show a positive impact on our overall business. Our ResponseDX revenue increased 70% over the first quarter 2009, with a current run rate of more than 1200 tests per quarter.

"Furthermore, the expansion of our lung panel to include epidermal growth factor receptor mutation analysis will approximately double its reimbursement rate."

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