BG Medicine, Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2014
March 31, 2015 at 04:00 pm
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BG Medicine, Inc. reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2014. For the quarter, the company reported total revenues of $554,000 against $1,149,000 a year ago. Loss from operations was $1,211,000 against $1,661,000 a year ago. Net loss was $1,319,000 against $1,935,000 a year ago. Basic and diluted loss per share was $0.04 against $0.06 a year ago. The decrease in total revenues reflected a $330,000 decrease in product revenues and a $265,000 decrease in service revenues from the prior year quarter.
For the year, the company reported total revenues of $2,787,000 against $4,073,000 a year ago. Loss from operations was $7,362,000 against $14,374,000 a year ago. Net loss was $8,064,000 against $15,849,000 a year ago. Basic and diluted loss per share was $0.25 against $0.58 a year ago. Net cash used in operating activities was $8,167,000 against $15,288,000 a year ago.
BG Medicine, Inc. (BG Medicine) is a commercial-stage diagnostics company. The Company is engaged in commercializing diagnostic products that may be used to help guide the care and management of patients suffering from heart failure and related disorders. The Company's BGM Galectin-3 Test is an in vitro diagnostic device that employs a manual micro-titer platform to measure galectin-3 levels in blood plasma or serum for use as an aid in assessing the prognosis of chronic heart failure in conjunction with clinical evaluation. The automated galectin-3 tests are being developed and commercialized by its diagnostic instrument manufacturing partners and will be performed on its partners' automated platforms. The Company's CardioSCORE test is a multi-analyte biomarker-based blood test that was designed as an aid in the assessment of near-term risk for atherothrombotic cardiovascular events, such as heart attack and ischemic stroke.