PR Newswire
REDWOOD CITY, Calif., Aug. 2, 2016
REDWOOD CITY, Calif., Aug. 2, 2016 /PRNewswire/ -- Genomic Health, Inc. (Nasdaq: GHDX) today reported financial results and business progress for the quarter ended June 30, 2016.
Total revenue was $82.0 million in the second quarter of 2016 and includes $0.1 million in contract revenue, compared with $70.6 million in the second quarter of 2015, an increase of 16 percent.
U.S. product revenue was $69.6 million in the second quarter of 2016, an increase of 15 percent, compared with the same period in the prior year. Prostate test revenue in the U.S. of $2.3 million contributed to approximately 3 percent of the year-over-year growth.
International product revenue was $12.3 million in the second quarter of 2016, compared with $9.9 million a year ago, an increase of 24 percent. International revenue on a constant currency basis increased by 26 percent compared with a year ago.i
More than 29,060 Oncotype DX® test results were delivered in the second quarter of 2016, an increase of 12 percent, compared with more than 26,060 test results delivered in the second quarter of 2015. U.S. invasive breast tests delivered grew 8 percent and prostate tests delivered grew 13 percent compared with the prior year. International tests delivered grew 23 percent compared with the prior year and represented approximately 23 percent of total test volume in the second quarter of 2016.
"In the second quarter we delivered double-digit revenue growth of 16 percent driven by an increase in Oncotype DX tests delivered across our key markets," said Kim Popovits, Chairman of the Board, Chief Executive Officer and President of Genomic Health. "In addition, we expanded our Oncotype IQ™ Genomic Intelligence Platform with the launch of our first liquid biopsy test, Oncotype SEQ, for late stage solid tumors, and announced an exclusive collaboration to commercialize Epic Sciences' AR-V7 liquid biopsy test for metastatic prostate cancer. These achievements further reinforce both our strategy and leadership in providing genomic-based diagnostics to optimize outcomes across the cancer patient journey."
Operating loss for the second quarter of 2016 improved to $5.1 million, compared with $10.8 million for the second quarter of 2015. Net loss was $6.1 million for the second quarter of 2016 and included a tax expense in the quarter of $1.4 million from the company's investment in a marketable security. Basic and diluted net loss per share was $0.18 for the second quarter of 2016, compared with basic and diluted net loss per share of $0.29 for the same period in 2015.
Total revenue for the six months ended June 30, 2016 was $162.9 million compared with $138.8 million for the six months ended June 30, 2015, an increase of 17 percent. On a constant currency basis, revenue increased 18 percent compared with the same period in the prior year.i
Operating loss improved to $13.9 million for the six months ended June 30, 2016 compared with an operating loss of $25.5 million for the six months ended June 30, 2015. Net loss was $12.5 million for the six months ended June 30, 2016 compared with a net loss of $18.7 million for the six months ended June 30, 2015.
Cash and cash equivalents and short-term marketable securities at June 30, 2016 were $80.9 million excluding the fair value of the company's investment in a marketable security of $12.7 million, compared with $76.8 million at December 31, 2015 excluding the fair value of the company's investment in a marketable security of $18.1 million.
2016 Financial Outlook
The company is raising the low end of both revenue and test guidance for the full-year ending December 31, 2016:
Recent Business Highlights
Oncotype DX Commercial Progress
Presentations and Publications
Conference Call Details
To access the live conference call today, August 2, at 4:30 p.m. Eastern Time via phone, please dial (877) 303-7208 from the United States and Canada or +1 (224) 357-2389 internationally. The conference ID is 48903348. Please dial in approximately ten minutes prior to the start of the call. To access the live and subsequently archived webcast of the conference call, go to the Investor Relations section of the company's website at http://investor.genomichealth.com/events.cfm. Please connect to the web site at least 15 minutes prior to the call to allow for any software download that may be necessary.
About Genomic Health
Genomic Health, Inc. (NASDAQ: GHDX) is the world's leading provider of genomic-based diagnostic tests that address both the overtreatment and optimal treatment of cancer, one of the greatest issues in healthcare today. With its Oncotype IQ™ Genomic Intelligence Platform, the company is applying its world-class scientific and commercial expertise and infrastructure to lead the translation of clinical and genomic big data into actionable results for treatment planning throughout the cancer patient journey, from diagnosis to treatment selection and monitoring. The Oncotype IQ portfolio of genomic tests and services currently consists of the company's flagship line of Oncotype DX gene expression tests that have been used to guide treatment decisions for more than 600,000 cancer patients worldwide. Genomic Health is expanding its test portfolio to include additional liquid and tissue-based tests. The company is based in Redwood City, California, with international headquarters in Geneva, Switzerland. For more information, please visit, www.GenomicHealth.com and follow the company on Twitter: @GenomicHealth, Facebook, YouTube and LinkedIn.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements relating to the company's beliefs regarding its future performance, including updated 2016 guidance; the commercial performance of its tests; the attributes and focus of the company's product pipeline; the ability of any potential tests the company may develop to optimize cancer treatment; and the ability of the company to develop and commercialize, and collaborate with third parties to commercialize, additional tests in the future. Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially, and reported results should not be considered as an indication of future performance. These risks and uncertainties include, but are not limited to: the risks and uncertainties associated with the regulation of the company's tests; the results of clinical studies and their impact on reimbursement and adoption; the applicability of clinical study results to actual outcomes; the company's ability to develop and commercialize new tests and expand into new markets domestically and internationally; the commercial success of any collaborations entered into by the company; the risk that the company may not obtain or maintain sufficient levels of reimbursement, domestically or abroad, for its existing tests and any future tests it may develop; the risks of competition; unanticipated costs or delays in research and development efforts; the company's ability to obtain capital when needed and the other risks set forth in the company's filings with the Securities and Exchange Commission, including the risks set forth in the company's Quarterly Report on Form 10-Q for the quarter ended March 31, 2016. These forward-looking statements speak only as of the date hereof. Genomic Health disclaims any obligation to update these forward-looking statements.
NOTE: The Genomic Health logo, Oncotype, Oncotype DX, Recurrence Score, DCIS Score, Oncotype SEQ, and Oncotype IQ are trademarks or registered trademarks of Genomic Health, Inc. All other trademarks and service marks are the property of their respective owners.
i Constant currency was calculated by comparing the company's quarterly average foreign exchange rates for the three and six months ended June 30, 2016 with the comparable periods of 2015.
GENOMIC HEALTH, INC. | |||||||||||||||||||||||||
Condensed Consolidated Statements of Operations | |||||||||||||||||||||||||
(In thousands, except per share amounts) | |||||||||||||||||||||||||
(Unaudited) | |||||||||||||||||||||||||
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| | Three Months Ended | | Six Months Ended | | ||||||||||||||||||||
| | June 30, | | June 30, | | ||||||||||||||||||||
| | 2016 | | 2015 | | 2016 | | 2015 | | ||||||||||||||||
REVENUES: | | | | | | | | | | ||||||||||||||||
Product revenues – United States | | $ | 69,556 | | $ | 60,692 | | $ | 140,051 | | $ | 118,409 | | ||||||||||||
Product revenues – Outside of the United States | | 12,330 | | 9,927 | | 22,729 | | 20,362 | | ||||||||||||||||
Total product revenues | | | 81,886 | | | 70,619 | | | 162,780 | | | 138,771 | | ||||||||||||
Contract revenues | | 88 | | - | | 88 | | - | | ||||||||||||||||
Total revenues | | 81,974 | | 70,619 | | 162,868 | | 138,771 | | ||||||||||||||||
| | | | | | | | | | ||||||||||||||||
OPERATING EXPENSES (1)(2): | | | | | | | | | | ||||||||||||||||
Cost of product revenues | | 15,221 | | 13,033 | | 31,021 | | 25,795 | | ||||||||||||||||
Research and development | | 15,325 | | 14,595 | | 31,288 | | 33,713 | | ||||||||||||||||
Selling and marketing | | 37,989 | | 37,243 | | 77,489 | | 72,595 | | ||||||||||||||||
General and administrative | | 18,537 | | 16,580 | | 36,975 | | 32,169 | | ||||||||||||||||
Total operating expenses | | 87,072 | | 81,451 | | 176,773 | | 164,272 | | ||||||||||||||||
Loss from operations | | (5,098) | | (10,832) | | (13,905) | | (25,501) | | ||||||||||||||||
Interest income | | 87 | | 55 | | 165 | | 109 Werbung Mehr Nachrichten zur Genomic Health Aktie kostenlos abonnieren
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