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Accelrys' Q3 Sales and R&D Spend Flat as Loss Nearly Doubles; Announces Pfizer Alliance

NEW YORK (GenomeWeb News) — Accelrys today said third-quarter revenues increased 1 percent as R&D spending fell 5 percent and loss increased 90 percent.
Separately today, Accelrys said it will partner with Pfizer to develop cheminformatic software.
Total receipts for the three months ended Dec. 31, 2006, increased to $20.7 million from $20.4 million year over year.
Accelrys said it saw “continued growth” of its standard product line, but said that was offset by reduced sales of “certain legacy products.” Accelrys also absorbed a restructuring charge of $200,000 related to the closing of its lab in Bangalore, India.
R&D spending decreased to $4.7 million from $5 million year over year.
The company said loss increased to $1.1 million from $567,000 in the year-ago period.
Accelrys said it had around $60 million in cash, cash equivalents and marketable securities as of Dec. 31.
As part of its deal with Pfizer, Accelrys said the drug giant will join the Accelrys Enterprise Cheminformatic Consortium, which is a three-year project beginning this year.
Under the agreement, Pfizer will help Accelrys develop its cheminformatics products, and help the company pursue projects in catalysis, combinatorial chemistry and nanotechnology.
Financial terms of the agreement were not disclosed.

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