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Genomic Health Announces Year-End 2009 Financial Results
Date:2/3/2010

d with $108.7 million in 2008, an increase of 35 percent.  Contract revenue comprised the balance of total revenue for each of these periods.  The net loss for the year ended December 31, 2009 decreased 42 percent to $9.4 million from $16.1 million in 2008.  Basic and diluted net loss per share applicable to common stockholders was $0.33 for the year ended December 31, 2009, compared with a $0.57 basic and diluted net loss per share in 2008.

Cash and cash equivalents and short-term investments at December 31, 2009 were $57.4 million, compared with $58.9 million at September 30, 2009 and $56.7 million at December 31, 2008.

"In 2009, we achieved our goal of becoming a self-sustaining business as our breast cancer franchise continued to grow and cash from operations turned positive, proving that innovative and proprietary R&D and clinically driven value-based pricing combined with a patient-centric service has delivered results," said Kim Popovits, President and Chief Executive Officer of Genomic Health.  "In 2010, we plan to build on this success by expanding worldwide use of our Oncotype DX breast cancer test, driving adoption of our second product, the Oncotype DX colon cancer test, and focusing our R&D investment on pipeline expansion."

Additional Fourth Quarter and Year-End 2009 Financial Results

Approximately 55 percent of product revenue was recorded on an accrual basis and recognized at the time the test results were delivered during the fourth q
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SOURCE Genomic Health, Inc.
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