Third Wave Reports Third-Quarter Financial Results

Madison, Wis.—Third Wave Technologies Inc. has reported financial results for the third quarter ended Sept. 30, 2005.

Third Wave reported total revenue of $5.2 million and a net loss of $7.4 million for the quarter ended Sept. 30, 2005, compared to total revenue of $10.5 million and net income of $24,000 for the same period of 2004. The company reported clinical molecular diagnostic revenue of $4.0 million for the third quarter, an increase of 5% from the same period of 2004 and a decrease of 6% from the prior quarter.

Total revenue for the third quarter ended Sept. 30, 2005, was down primarily due to the reduction in non-recurring research revenue from Japan, which was expected.

• Read previous coverage of Third Wave in WTN:
Third Wave files patent suits against Digene, Chiron and Bayer
Third Wave sued by one firm; gets injunction against another
Third Wave wins patent lawsuit against California firm