Gen-Probe reported a $2.6-million net loss for the third quarter ended Sept. 30. The biomedical company reported a $2-million net loss during the same period a year ago. The most recent quarterly loss included a $300,000 one-time charge for the purchase of rights to future technology.
Revenue for the third quarter rose by 40%, to $1.4 million, up from $1 million a year ago. Product sales for the quarter increased by 63%, to $610,000, up from $373,000 during the previous third quarter.
Genprobe reported a $6.9-million net loss for the nine-month period ended Sept. 30, compared to a $5.9-million net loss during the comparable period the year before. Revenue for the nine-month period rose by 26%, to $3.9 million, up from $3.1 million in 1987.
Genprobe has expanded its sales force to “aggressively market” a non-isotopic test for sexual diseases, according to President and Chief Executive Thomas A. Bologna.