Revenue Update on GenMark Diagnostics Inc(NASDAQ:GNMK)

GenMark Diagnostics Inc(NASDAQ:GNMK) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during After-hours on Jul 28, 2016. Company reported revenue of $12.51M. Analysts estimated a revenue of $9.62M. Earnings per share were $-0.30. Analysts had estimated an EPS of $-0.33.

GenMark Diagnostics Inc (GNMK) made into the market gainers list on Thursdays trading session with the shares advancing 1.25% or 0.12 points. Due to strong positive momentum, the stock ended at $9.73, which is also near the day’s high of $10.03. The stock began the session at $9.65 and the volume stood at 4,70,460 shares. The 52-week high of the shares is $11.31 and the 52 week low is $4.2. The company has a current market capitalization of $418 M and it has 4,29,93,890 shares in outstanding.

Several Insider Transactions has been reported to the SEC. On Jun 7, 2016, Ingo Chakravarty (SVP, International) sold 184 shares at $8.53 per share price.Also, On Jun 7, 2016, Jon Faiz Kayyem (SVP, Research & Development) sold 435 shares at $8.76 per share price.On Jun 7, 2016, Eric Stier (SVP & General Counsel) sold 512 shares at $8.76 per share price, according to the Form-4 filing with the securities and exchange commission.

GenMark Diagnostics Inc. (GenMark) is a molecular diagnostics company. The Company is focused on developing and commercializing its eSensor detection technology. The Company’s electrochemical technology enables detection of multiple distinct biomarkers in a single sample. The Company’s XT-8 system received 510(k) clearance from the United States Food and Drug Administration (FDA) and is designed to support a range of molecular research and diagnostic tests with a workstation and disposable test cartridges. Its XT-8 system supports up to 24 independent test cartridges each of which can be run independently resulting in a workflow for its focused customers which are primarily hospitals and reference laboratories. It has an installed base of approximately 540 XT-8 analyzers or placements with its customers.

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