Revenue Update on CombiMatrix Corp(NASDAQ:CBMX)

CombiMatrix Corp(NASDAQ:CBMX) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during After-hours on Aug 3, 2016. Company reported revenue of $3.11M. Analysts estimated a revenue of $3.10M. Earnings per share were $-0.89. Analysts had estimated an EPS of $-0.27.

CombiMatrix Corp (CBMX) shares turned negative on Fridays trading session with the shares closing down -0.04 points or -1.13% at a volume of 1,09,020. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $3.5699. The peak price level was also seen at $3.5699 while the days lowest was $3.45. Finally the shares closed at $3.49. The 52-week high of the shares is $21.749891 while the 52-week low is $2.6226. According to the latest information available, the market cap of the company is $8.3 M.

Several Insider Transactions has been reported to the SEC. On May 10, 2016, Robert Hoffman (director) purchased 5,000 shares at $3.19 per share price.Also, On May 10, 2016, Lale White (director) purchased 7,792 shares at $3.06 per share price.On May 10, 2016, Scott Gottlieb (director) purchased 4,000 shares at $3.04 per share price, according to the Form-4 filing with the securities and exchange commission.

CombiMatrix Corporation is a molecular diagnostics company. The Company operates in the field of genetic analysis and molecular diagnostics through its wholly owned subsidiary CombiMatrix Molecular Diagnostics Inc. located in Irvine California. The Company operates as a diagnostics reference laboratory providing DNA-based clinical diagnostic testing services to physicians hospitals clinics and other laboratories in the areas of pre-and postnatal development disorders and hematology/oncology genomics. The Company’s oligo arrays allow the Company to perform aCGH on a much more refined scale than is possible with BAC technology.

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