MDxHealth's revenue soars, net loss deepens in H1

Belgian diagnostics firm MDxHealth ($MDXH) saw its net revenue jump in the first half of 2012, but the costs of scaling up sales drove net income down 12% over the same period in 2011, the company reported. Buoyed by licensing and companion diagnostics deals, MDxHealth brought in €2 million ($2.5 million) in net revenue for the half--a 78% increase over the previous year--with €1.5 million ($1.9 million) of that coming from commercial sales of the company's diagnostic kits. MDxHealth's net loss widened to €4.3 million ($5.4 million), but the company is expecting continued revenue growth in the second half, thanks in part to deals with Merck KGaA and GlaxoSmithKline ($GSK). Release

Suggested Articles

The drug that treats atrial fibrillation, flecainide, has been around since the '80s. Grace Colón, CEO of InCarda, thinks it needs a face-lift.

3M, maker of the ubiquitous Littmann stethoscope brand, has teamed up with Eko to create a new digital version that amplifies sounds and adds AI.

Study data from Medtronic showed more patients reported improvements in their chronic back pain after treatments with the devicemaker’s tiny implant.