Nan­tHealth’s net loss dou­bles in third quar­ter

Modern Healthcare - - Regional News -

Pub­licly traded pre­ci­sion medicine com­pany Nan­tHealth saw its net loss more than dou­ble in the third quar­ter as its CEO said the com­pany is strug­gling to get re­im­bursed for its ge­netic cancer tests.

Cul­ver City, Calif.-based Nan­tHealth’s net loss to­taled $97.5 mil­lion in the quar­ter ended Sept. 30, up from $42.4 mil­lion at the same pe­riod in 2017. To­tal net rev­enue was $22.3 mil­lion in the quar­ter, up 2.3% from the prior-year pe­riod. The com­pany’s gross profit in the quar­ter was about half of that, at $11.1 mil­lion, up nearly 8% from $10.3 mil­lion in the prior-year pe­riod.

Nan­tHealth noted in its earn­ings re­port that the com­pany is see­ing “con­tin­ued se­quen­tial quar­terly growth” in the num­ber of physi­cians or­der­ing its tests de­signed to yield ge­netic pro­files of can­cers. Providers or­dered 930 of its GPS Cancer and Liq­uid GPS tests in the third quar­ter, ac­cord­ing to the re­port.

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