Progenity slumps 20% after wider-than-expected Q4 loss

Biora Therapeutics

29/03/2022 11:22

** Biotech company  PROG.O  slides 20% to $1.28 premarket,
after reporting Q4 results 
    ** Co, which is moving away from diagnostics business to
focus on oral therapeutics, reports Q4 loss of 56 cents per
share vs analysts loss est. of 16 cents a share  urn:newsml:reuters.com:*:nGNX9Hjy4l
    ** Says it generated revenue of $7.7 mln in Q4, of which
$7.2 mln was from discontinued operations; analysts were
expecting revenue of $250,000
    ** Co expects to invest ~$25 mln in R&D activities this year
    ** Stock down nearly 23% YTD after a 60% plunge in 2021
    

 (Reporting by Sruthi Shankar)
 ((sruthi.shankar@thomsonreuters.com;))