MDxHealth net loss widens as ramps up U.S. test launch
BRUSSELS Aug 22 (Reuters) - Belgium-based cancer testing company MDxHealth said on Thursday its revenue had risen but its net loss widened in the first half as the U.S. launch of its flagship prostate cancer test gathered pace.
The company did not give a specific outlook, but did say that operating costs would increase in the second half of 2013 due to the commercialisation of ConfirmMDx, which was launched in May 2012 and cleared by New York health regulators last month.
MDxHealth said in a statement that revenue in the first six months of this year, excluding government grants or subsidies, rose 51 percent year-on-year to 3.0 million euros ($4.0 million) and its net loss widened to 6.0 million euros from 4.3 million euros in the first half of 2012.
MDxHealth had 24.7 million in cash and equivalents at the end of June, swelled by a 18 million euro private placement in June. ($1 = 0.7476 euros) (Reporting By Philip Blenkinsop)
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