Mirxes narrow losses as H1 revenue rises to $10.5m

Mirxes reported US$10.5 million in revenue for the first half of 2025, up 9.4% from US$9.6 million a year earlier.

Gross profit rose to US$7.1 million from US$4.7 million, while net loss narrowed to US$28.4 million compared to US$44.5 million in H1 2024.

Revenue from its early detection and precision multi-omics segment reached US$10.5 million, a 50% rise from US$7 million a year earlier.

Gross profit from that segment rose 102.9% to US$7.1 million.

The biotech company said it made progress in registering its GASTROClear test in China, expanding testing services in Japan, and starting registration in Southeast Asia.

It is also advancing clinical development of blood tests for colorectal, liver, and multi-cancer detection in collaboration with academic medical institutions.

🔗 Source: Mirxes

🧠 Food for thought

1️⃣ Biotech companies successfully pivot from pandemic revenue back to core business

Mirxes’ financial results demonstrate how medical diagnostics companies navigated the end of COVID-19 testing revenue by accelerating their original business focus.

The company’s core early detection and precision multi-omics segment grew 50% to reach US$10.5 million, while total revenue increased only 9.4% to the same amount 1. This indicates that growth in their cancer screening business fully offset the cessation of COVID-19 related sales.

This transition highlights the broader challenge faced by diagnostics companies that experienced temporary revenue boosts during the pandemic but needed to return focus to their original disease targets.

The company’s ability to maintain overall revenue growth while losing an entire revenue stream shows effective business model resilience and validates their pre-pandemic strategic direction.

Their gross profit margin improved to 67.6%, suggesting that their core cancer detection business commands higher margins than the commoditized COVID testing that dominated during the pandemic 1.

2️⃣ Regulatory breakthrough designations accelerate Asian biotech market expansion

Mirxes’ progression from FDA Breakthrough Device Designation to rapid Asian market expansion illustrates how regulatory validation creates momentum across multiple markets.