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Biotechnology industries

ViroLogic, Inc. Reports Record Revenue and Substantial Net Loss in Q1 2005

Strategic Insights

— 1 min read

ViroLogic, Inc., a biotechnology company, has achieved a record revenue of $10 million in the first quarter of 2005, marking a significant increase from the $9 million revenue reported in the same quarter of 2004. The company's HIV patient testing products generated $5.9 million in revenue, while its HIV pharmaceutical testing products generated $2.9 million. Oncology and eTag collaborations contributed $0.5 million to the revenue. Despite the revenue growth, the company reported a substantial net loss of $7.4 million, or $0.06 per common share, in the first quarter of 2005. This net loss was partly due to substantial non-cash items related to the merger with ACLARA.

Key Takeaways:

  • ViroLogic, Inc. reported a record revenue of $10 million in Q1 2005, a 11% increase from Q1 2004.
  • Revenue from HIV patient testing products increased 3% to $5.9 million in Q1 2005.
  • HIV pharmaceutical testing products revenue remained steady at $2.9 million in Q1 2005.
  • Revenue from oncology and eTag collaborations was $0.5 million in Q1 2005.
  • The company reported a net loss of $7.4 million, or $0.06 per common share, in Q1 2005.
  • The net loss included substantial non-cash items related to the merger with ACLARA.
  • ViroLogic had $74.9 million in cash, cash equivalents, short-term investments, and restricted cash at March 31, 2005.
  • The company paid approximately $5 million in transaction costs related to the merger with ACLARA in Q1 2005.

Statistics:

  • revenue: $10 million (Q1 2005), $9 million (Q1 2004)
  • HIV patient testing products revenue: $5.9 million (Q1 2005), $5.8 million (Q1 2004)
  • HIV pharmaceutical testing products revenue: $2.9 million (Q1 2005), $2.9 million (Q1 2004)
  • Oncology and eTag collaborations revenue: $0.5 million (Q1 2005)
  • Net loss: $7.4 million (Q1 2005), $1.2 million (Q1 2004)
  • Cash and cash equivalents: $74.9 million (March 31, 2005)
  • Transaction costs related to the merger with ACLARA: approximately $5 million (Q1 2005)

Sources:

  • ViroLogic, Inc. (press release)
  • Health & Medicine Week via NewsRx.com (article)

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