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Affymetrix (Nasdaq: AFFX) $6.64. Today announced that the U.S. Food and Drug Administration has cleared the addition of new gene expression reagents as accessories to its GeneChip Microarray Instrument System for in vitro diagnostic (IVD) use, making Affymetrix the first in the industry to provide a comprehensive microarray-based clinical toolkit for diagnostic test development, signature discovery for companion diagnostics, and translational initiatives.
With a full complement of arrays, assays, a data processing solution, an instrument system, and reagents manufactured under current Good Manufacturing Processes (cGMP) and ISO 13485 standards, the Affymetrix gene expression platform is the most comprehensive and reliable system available for enabling the development of clinical diagnostic tests. This industry-leading system’s high standards aim to shorten development time by easing the regulatory burden and delivering reproducible results.
What They Do: Affymetrix technology is used by the world's top pharmaceutical, diagnostic, and biotechnology companies, as well as leading academic, government, and nonprofit research institutes.
BroadSoft (Nasdaq: BSFT) $43.18. Today announced financial results for the quarter ended March 31, 2011. Total revenue rose to $29.7 million in the first quarter of 2011, an increase of 67% compared to $17.8 million in the first quarter of 2010.
Net income for the first quarter of 2011 was $3.7 million, or $0.13 per diluted common share, compared to a net loss of $(2.6) million, or $(0.41) per basic and diluted common share, in the first quarter of 2010. GAAP results for the first quarter of 2011 included $1.1 million of non-cash stock-based compensation expense and $0.2 million of amortization expense for acquired intangible assets.
On a non-GAAP basis, net income in the first quarter of 2011 was $5.0 million, or $0.18 per diluted common share, compared to a non-GAAP net loss of $(2.1) million, or $(0.11) per basic and diluted common share, in the first quarter of 2010. Non-GAAP net income for these periods excluded the impact of non-cash stock-based compensation expense and amortization expense for acquired intangible assets, and for the three months ended March 31, 2010, the loss per basic and diluted per share included an adjustment for the preferred stock conversion.
What They Do: BroadSoft provides software that enables fixed-line, mobile and cable service providers to deliver voice and multimedia services over their IP-based networks.
Oncothyreon Inc. (Nasdaq: ONTY) $4.47. Announced Friday after market close financial results for the first quarter ending March 31, 2011. Net loss from operations increased to $5.9 million in the first quarter of 2011 from $5.4 million in the first quarter of 2010 as the result of increased research and development expenses offset by a decrease in general and administrative expenses.
Net loss for the quarter ended March 31, 2011 was $7.1 million or $0.24 per basic and diluted share, compared with a net loss of $0.8 million or $0.03 per basic and diluted share for the comparable period in 2010. The increase in net loss was primarily the result of a non-cash expense of $1.5 million as a result of an increase in fair value of warrant liability in the quarter ended March 31, 2011, compared with a $4.6 million decrease in fair value of warrant liability in the quarter ended March 31, 2010.
As of March 31, 2011, Oncothyreon's cash, cash equivalents and short-term investments were $29.0 million, compared to $28.9 million at the end of 2010, an increase of $0.1 million attributable to $5.0 million in funding from the initial term loan with General Electric Capital Corporation offset by cash used in operations and capital expenditures during the quarter.
What They Do: Oncothyreon is a biotechnology company specializing in the development of innovative therapeutic products for the treatment of cancer.
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