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Posted On: 03/07/2017 4:12:15 PM
Post# of 23059
$BIOC
We accessioned 4,211 billable assays in 2016, an increase of 131% from 1,824 during 2015. Revenues in 2016 increased to $3.2 million , up 428% from $610,000 in the prior year.
Total costs and expenses were $21.2 million in 2016, up from $17.0 million for 2015, with the increase attributable primarily to cost of revenues due to higher commercial assay volume, as well as increased sales and marketing and general and administrative expenses to support the expanded commercial activities.
Net loss for 2016 was $18.4 million , or $1.92 per share based on 9.6 million weighted-average shares outstanding. This compares with a net loss of $16.9 million for the same period in 2015, or $3.07 per share based on 5.5 million weighted- average shares outstanding.
We reported cash and cash equivalents of $4.6 million as of December 31, 2016 . This compares with $8.8 million as of December 31, 2015 . In 2017 to date, we have received an additional $4.6 million in proceeds related to warrant exercises from our October 2016 financing.
We accessioned 4,211 billable assays in 2016, an increase of 131% from 1,824 during 2015. Revenues in 2016 increased to $3.2 million , up 428% from $610,000 in the prior year.
Total costs and expenses were $21.2 million in 2016, up from $17.0 million for 2015, with the increase attributable primarily to cost of revenues due to higher commercial assay volume, as well as increased sales and marketing and general and administrative expenses to support the expanded commercial activities.
Net loss for 2016 was $18.4 million , or $1.92 per share based on 9.6 million weighted-average shares outstanding. This compares with a net loss of $16.9 million for the same period in 2015, or $3.07 per share based on 5.5 million weighted- average shares outstanding.
We reported cash and cash equivalents of $4.6 million as of December 31, 2016 . This compares with $8.8 million as of December 31, 2015 . In 2017 to date, we have received an additional $4.6 million in proceeds related to warrant exercises from our October 2016 financing.
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