Mainz Biomed reported a decrease in revenue and a significant increase in net loss for the first half of 2022 in comparison to the same period in the prior year.
For the first half ended June 30, Mainz reported $239,805 in revenues compared to $417,311 in the same period in 2021.
Most of the revenue came from its at-home colorectal cancer detection test ColoAlert. In the first half of 2022, it reported $238,255 in revenue from ColoAlert while it reported $104,851 during the first half of the previous year.
Additionally, the company reported a net loss of $12.6 million during the first half of 2022, while it posted a net loss of $261,721 in the same half of 2021.