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Genomic Health Announces Third Quarter 2010 Financial Results and Business Progress
Date:11/8/2010

s for the same period in 2009 of $4.2 million, including $2.5 million of stock-based compensation expense and $1.7 million of depreciation and amortization expenses.

Cash and cash equivalents and short-term investments at September 30, 2010 increased by $12.3 million to $69.7 million, compared with $57.4 million at December 31, 2009.

Financial Results for Nine Months Ended September 30, 2010Total revenue for the nine months ended September 30, 2010 was $131.0 million, compared with $110.0 million for the first nine months of 2009.  Product revenue for the nine months ended September 30, 2010 was $128.6 million, compared with $107.5 million for the first nine months of 2009, an increase of 20 percent.

Net income was $2.6 million for the nine months ended September 30, 2010, compared with a net loss of $9.1 million for the first nine months of 2009. Basic and diluted net income per share was $0.09 for the nine months ended September 30, 2010, compared with basic and diluted net loss per share of $0.32 for the first nine months of 2009.

Commercial Progress

  • Delivered more than 14,730 Oncotype DX® test results in the third quarter of 2010, an increase of 17 percent, compared with more than 12,600 test results delivered in the third quarter of 2009.
  • Established contracts with the Blue Cross Blue Shield plans of Delaware, Florida, and Montana, and with Blue Cross of Northeastern Pennsylvania (NEPA), for estrogen-receptor positive node-negative breast cancer, including patients with micrometastases.
  • Established a contract with EmblemHealth for certain estrogen-receptor positive breast cancer patients providing in-network benefit coverage for approximately 3.3 million lives in the Northeast.

  • Oncotype DX Breast Cancer Updates

  • The NCI-sponsored Eastern Cooperative Oncology Group completed enrollment of more than 10,000 early-stage breast cancer patients from more
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  • SOURCE Genomic Health, Inc.
    Copyright©2010 PR Newswire.
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