Response Genetics Hires CFO

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Response Genetics Inc. on Wednesday said that David D. O’Toole had been appointed chief financial officer.

The Los Angeles developer of molecular diagnostic tests for cancer said that O’Toole will also hold the title of vice president. He replaces Thomas Stankovich, who resigned in March.

O’Toole has more than 26 years of accounting, business and finance experience, and most recently was CFO at Los Angeles biotech Abraxis Bioscience Inc. Prior to that he was a partner at Deloitte & Touche LLP, where he was responsible for managing services for many large- and medium-sized life science and biotech companies, the company said.

“David brings extensive finance and management expertise to the company and we expect that his range of experience in life science companies will help contribute to the long-term success of the company,” said Chief Executive Kathleen Danenberg in a statement.

Response Genetics has a $39 million market cap, and reported a 50 percent smaller 2009 net loss of $1.7 million on 28 percent greater revenue of $9.1 million.

Shares were down 6 cents, or 2.7 percent, to $2.15 in midday trading on the Nasdaq.

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