NEW YORK (GenomeWeb News) — Accelr8 last week reported that third-quarter revenues were stable while R&D spending fell by half and losses narrowed 40 percent.
Total receipts for the three months ended April 30 increased to $22,700 from $19,800 year over year.
The company’s only revenue came from its OptiChem product line.
R&D spending was slashed to $247,500 from $490,000 year over year.
The company said net losses decreased to $477,000 from $789,000 in the year-ago period.
"The reduced losses reflect our planned transition from a product-engineering phase to an intensive testing phase using laboratory prototypes,” Accelr8 president David Howson said in a statement.
The company is testing an assay for methicillin-resistant Staphylococcus aureus infections, which are common in hospitals and be fatal.
Accelr8 said it had around $1.8 million in cash and cash equivalents as of April 30.