NEW YORK (GenomeWeb News) – Accelr8 today said fiscal second-quarter revenues rose 53 percent as R&D spending decreased 57 percent and losses narrowed 42 percent.
Total receipts for the three months ended Jan. 31 increased to $85,000 from 55,000 year over year.
More than half the revenues came from license fees, with smaller amounts coming from option fees and from OptiChem sales.
R&D spending fell to $250,000 from $570,000 year over year.
The company said net losses decreased to $460,000 from $790,000 in the year-ago period, which “reflect[s] the completion of the first BACcelr8r lab prototypes,” Accelr8 President David Howson said in a statement.
Accelr8 said it had around $2.1 million in cash and cash equivalents as of Jan. 31.