Response Genetics’ Q2 Revenue Up 4%

Response Genetics has posted increase in total revenue by 4% to $1.9m for the second quarter, 2009, as compared to $1.8m for the same period last year. The company’s net loss for the second quarter, 2009 was $2.4m or $0.19 per share, compared to a net loss of $2.2m, or $0.21 per share, for the same period last year.

For six months ended June 30, 2009, the company reported a decrease in total revenue by 8% to $3.4m, as compared to $3.7m for the same period last year. The company’s net loss for the six months ended June 30, 2009 was $5.6m or $0.49 per share, compared to a net loss of $3.9m, or $0.38 per share, for the same period last year.

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 EGFR mutation analysis will approximately double its reimbursement rate.

“Reception of Response Genetics’ personalized medicine products and services was overwhelmingly positive at the recent World Conference on Lung Cancer. By demonstrating clear value to physicians and therapeutic benefit to their patients, we look forward to expanding our market to help ensure that the right therapy is given to each patient the first time,” she added.