Biotechnology company Clinical Data Inc. said Tuesday its fiscal 2010 third-quarter loss narrowed on a boost in sales of Familion and PGxPredict tests.
The company lost $16 million, or 63 cents per share, compared with a loss of $23.7 million, or $1.04 per share, a year ago. Revenue rose to $3.1 million from $2.8 million.
Analysts polled by Thomson Reuters expected a loss of 65 cents per share on revenue of $3.6 million.
The Familion genetic tests are focus on inherited diseases and the PGxPredict tests are used to predict drug response.
Shares of Clinical Data rose 49 cents, or 3.3 percent, to $15.28 in morning trading.