Citing the high cost of market introduction of six new products, Gen-Probe Inc. reported a loss of $2 million on revenue of $1.03 million for the third quarter ended Sept. 30, contrasted with a $1.1-million loss on revenue of $668,000 over the same period last year.
Gen-Probe, a manufacturer of DNA probe-based medical diagnostic kits, shipped its first FDA-cleared products last year.
For the nine months ended Sept. 30, Gen-Probe reported a loss of $5.9 million on revenue of $3.1 million, contrasted with a loss of $3.2 million on revenue of $1.7 million in the same period last year.
For the recently ended quarter, product sales accounted for $373,000 of total revenue. For the nine months, product sales were $1.02 million.