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Response Genetics Reports Third Quarter 2007 Financial Results
Date:11/14/2007

,095 for the same period in the prior year. General and administrative expenses of $1.8 million for the third quarter of 2007 increased from $656,997 for the third quarter of the prior year. Total operating expenses for the third quarter of 2007 increased to $3.3 million, compared with $1.6 million for the same period last year. The increases in operating expenses were primarily due to 1) non-cash, stock-based compensation to employees and new personnel to support the Company's growth totaled approximately $582,000, 2) operating costs related to the continuing operation of the European laboratory totaled approximately $460,000, 3) costs involving the new testing services the Company is offering, maintaining the Company's intellectual property portfolio, costs related to the completion of the Company's IPO, and costs associated with being a public company totaled approximately $729,000.

Response Genetics' net loss for the third quarter of 2007 of $898,986 or $0.09 per share, compared with a net profit of $32,382, or $0.01 per share, for the third quarter of 2006.

Financial Results for Nine Months Ended September 30, 2007

Revenues for the first nine months of 2007 increased 40% to $5.4 million, compared with $3.8 million for the first nine months of 2006. Cost of revenue for the first nine months of 2007 was $2.9 million, compared with $1.6 million reported for the first nine months of 2006. General and administrative expenses for the first nine months of the year were $5.0 million, compared to $2.2 million for the comparable period in 2006. Research and development expenses in the first nine months of 2007 totaled $1.9 million, compared to $862,797 for the comparable period in 2006. Total operating expenses for the first nine months of 2007 were $9.8 million, versus $4.7 million for the comparable period in 2006. Response Genetics reported a net loss for the nine months ended September 30, 2007 of $4.6 million, or $0.78 per share, versus a net loss
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SOURCE Response Genetics, Inc.
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