Nanogen, Inc. (NGEN) Revenues Up, Costs Down
Nanogen, Inc., global developer of molecular diagnostic test kits, announced remarkable revenue and cost figures for the third quarter of 2008. Not only did revenues increase by a whopping 64% to $13.8 million compared to the same quarter in 2007, the company also managed to slash sales costs by 31%. The combination has accelerated the company’s move to profitability, especially in light of the recently announced plans to merge next year with French diagnostics company Elitech. Nanogen Chairman and CEO, Howard C. Birndorf, summarized the importance of the results. “Our third quarter results continue to show the excellent progress we…
