Benzinga | Apr 30, 2021 08:19AM EDT

AnPac Bio Reports FY 2020 Revs RMB20.5M

* Total revenues were RMB20.5 million (US$3.1 million) in fiscal year 2020, an increase of 89.1% from RMB10.8 million (US$1.6 million) in fiscal year 2019.

* Gross margin was 62.8% in fiscal year 2020, an increase of 18.6% from 44.2% in fiscal year 2019.

* The average selling price ("ASP") of CDA-based tests was RMB446 (US$68.4) in fiscal year 2020, increased by RMB248, or 125.3% from RMB198 in fiscal year 2019, primarily due to a broader product offering of more comprehensive multi-cancer detection tests at higher price points.

* Net loss decreased to RMB80.6 million (US$12.3 million) in fiscal year 2020 from RMB101.6 million in fiscal year 2019. The net loss in fiscal year 2020 was mainly attributable to RMB 19.7 million (US$ 3.0 million) selling and marketing expenses and RMB 74.8 million (US$ 11.5 million) general and administrative expenses. Short-term debt decreased significantly (a decrease of approximately 78.7%) compared to the end of last fiscal year (December 31, 2019).