Oxford Immunotec revenue up, reports 2Q loss
Oxford Immunotec, a diagnostics company with U.S. headquarters in Marlborough, announced revenue growth in the second quarter of 2015 alongside continued overall losses.
The biotech company took in revenue of $14.3 million, up 21 percent and led by sales in the U.S. and Asia. U.S. revenue was $7.3 million in the second quarter of 2015 representing 33 percent growth over $5.5 million in the same period in 2014. Meanwhile, revenue from was $5.1 million, representing 6 percent growth over $4.5 million in the second quarter of 2014.
"Our sales performance came in above our expectations … and we are pleased with the regulatory and clinical progress we are making on our T-SPOT.CMV test,” said Dr. Peter Wrighton-Smith, CEO.
The company recently developed a laboratory test that measures a patient's immunity to cytomegalovirus (CMV), a herpes virus. The company does not yet have a product that has secured all regulatory approvals to be put into the market.
Oxford said it expects revenue for the year of between $61 and $64 million, representing 23 to 29 percent year-over-year growth.
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