NEW YORK (GenomeWeb) – Belgian molecular diagnostics firm Biocartis today reported that its total revenues for the first half of 2018 jumped 83 percent year over year, driven by a rise in cartridge consumption and collaboration revenue.
For the six months ended June 30, Biocartis’ total revenues soared to €12.7 million ($14.8 million) from €7.0 million in 2017.
Total product sales rose 69 percent to €8.6 million from €5.1million, driven by a 102 percent jump in Idylla cartridge sales to €6.6 million from €3.3 million a year earlier. Within total product sales, commercial revenues rose 58 percent to nearly €8.0 million from €5.0 million a year earlier, while R&D revenues skyrocketed to €605,000 in 2018 from €66,000 in 2017.
Collaboration revenues, meanwhile rose sharply to €3.5 million in H1 2018 from €716,000 in H1 2017. Service revenues rose more than 141 percent to €251,000 from €104,000.
The company installed 149 Idylla instruments during the recently completed period, bringing its total installed base to 796, and sold about 58,000 cartridges.
In July, Biocartis launched its microsatellite instability (MSI) assay as a research-use-only test, which provides information on the status of a tumor in about 2.5 hours from just one slice of