SOUTH SAN FRANCISCO, Calif., Jan. 9, 2012 /PRNewswire/ -- diaDexus, Inc. (OTC Bulletin Board: DDXS.OB), a diagnostics company focused on patent-protected in vitro diagnostic products addressing unmet needs in cardiovascular disease, today announced preliminary Q4 2011 revenues of approximately $4.9 million, up 48% from the prior year's fourth quarter. This result brings projected year-end 2011 revenue to $16.4 million, up 39% over 2010's full year revenues. These preliminary results are unaudited and subject to adjustment prior to the Company filing its Annual Report on Form 10-K on or before March 21, 2012.
The Company also announced a preliminary cash and investments balance of approximately $17.2 million as of December 31, 2011. This preliminary balance is unaudited and subject to adjustment prior to the Company filing its Form 10-K on or before March 21, 2012.
diaDexus provided new guidance for 2012 total revenue at $20 - 21 million, estimating year-over-year growth of approximately 26% compared to 2011.
According to Brian E. Ward, Ph.D, Chief Executive Officer, "2011's strong revenue growth reflects significant assay purchases by cardiovascular specialty laboratories. diaDexus' dominant role as the only supplier of LP-PLA2 assays in this market, plus the fact that the PLAC Test has become a cornerstone of comprehensive diagnostic lipid profile analysis, are the primary contributors to this growth. We also believe that guidelines published in 2010 and 2011 by the American Heart Association and the American Stroke Association to support testing of LP-PLA2, coupled with emerging clinical utility data, are increasing physician awareness of this important cardiovascular risk assessment tool. Looking forward, we believe this growth trend will continue to be fueled by penetration of more generalized laboratories, our new activity assay which will be launched in Europe, broader reimbursement coverage, and additional positive cli
|SOURCE diaDexus, Inc.|
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