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Genomic Health Announces Second Quarter 2013 Financial Results and Business Progress
Date:7/31/2013

e 30, 2013 Financial ResultsTotal operating expenses for the second quarter of 2013 were $66.6 million, compared with total operating expenses of $55.8 million for the comparable period in 2012.

Product revenue for the six months ended June 30, 2013 was $126.4 million, compared with $115.1 million for the six months ended June 30, 2012, an increase of 10 percent. Total revenue for the six months ended June 30, 2013 was $126.8 million, compared with $116.1 million for the same period in 2012. 

Net loss was $3.9 million for the six months ended June 30, 2013, compared with net income of $2.6 million for the six months ended June 30, 2012. 

Cash and cash equivalents and short-term investments at June 30, 2013 were $107.3 million, compared with $99.1 million at December 31, 2012. 

In the second quarter, more than 20,640 Oncotype DX test results were delivered, an increase of 9 percent, compared with more than 19,020 test results delivered in the same period in 2012.

Recent Business Highlights:Oncotype DX Commercial Progress

  • Began offering the Oncotype DX prostate cancer test to physicians and patients immediately following the UCSF presentation of the positive clinical validation results at the American Urological Association (AUA) Annual Meeting on May 8. 
  • Palmetto GBA, the designated national contractor for the Oncotype DX breast cancer test, expanded its coverage policy for all qualified Medicare patients to include patients with ductal carcinoma in situ (DCIS).
  • Established coverage for the Oncotype DX breast cancer test among private payers representing more than 4 million lives in Argentina.
  • Medical Meeting Presentations, Publications and Pipeline

  • Initiated first prostate cancer treatment decision impact study.
  • Executed an agreement for a second large prostate cancer study.
  • Finalizing sample collection for a second large DCIS
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  • SOURCE Genomic Health, Inc.
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