Complete Genomics Shares Rise in Today’s Trading; Expanding Presence in Asia
Complete Genomics Inc. (NASDAQ: GNOM) is currently trading at $2.99, up 28.76 percent from its previous close. The stock has already logged volume of 13.23 million shares, in comparison to average daily trading volume of 1.1 million. The biotech company had recently announced its first quarter results for the year. It announced its quarterly revenue at $23.4 million and the company’s net loss stood at $20.2 million. The comparative figures for the corresponding quarter of the last year were $18.9 million in revenue and $12.5 million in net loss. The company also reported its research and development expenses at $8.7 million, up from $6.8 million for the first quarter of the last year.
Complete Genomics is also expanding its presence in Asia. The company announced that it has signed distributor agreements in various Asia Pacific countries such as Korea, Japan, Australia and China. Under these agreements, the distributors will help the company to effectively deliver the data to its regional customers. The new collaboration will also aid Complete Genomics in preparing samples at the beginning of the sequencing process. The company also recently announced the completion of genome sequencing process to assist researchers in discovering new genetic variant of Type 2 diabetes.
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