17 May 2013 - 17 May 2013 - US diagnostic company Cancer Genetics Inc (NASDAQ:CGIX) has moved to a net profit of USD 2.4 million (EUR 1.9m) in the first quarter of 2013 from a loss of USD 1.1 million a year ago, thanks mainly to a change in fair value of warrant liability.

Revenue improved to USD 1.2 million in January-March 2013 from USD 834,752 in the previous year. Average revenue per test rose by 23% on the year to USD 615 per unit, boosted by an increase in direct bill revenue.

Clinical test volume surged by 19% year-on-year to 1,911 tests. DNA-probe sales by the company's unit CGI Italia skyrocketed by 193% over the year to USD 44,000 in the first three months of 2013.

Going further, Cancer Genetics anticipates to introduce new genomic tests this year.

(USD 1.0 = EUR 0.777)