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Aclara BioSciences Second Quarter Revenues Drop

NEW YORK, July 30 -- Aclara BioSciences of Mountain View, Calif., today announced revenues of $405,000 for the second quarter ending June 30, compared to $673,000 for the year-ago quarter.


The company reported research and development expenditures of $4.1 million, compared to $6.6 million for the same quarter in 2002.


The firm reported cash, cash equivalents, and short term investments of $73.6 million, compared to the $51 million it reported as of Dec. 31.


The company had a net loss of $5.1 million, compared to $9.9 million for the year-ago period.


The company said it reduced operating expenses by $5.6 million, with $3.8 million in savings from the reduction of its microfluidics programs, a reorganization, and a decision to focus on its eTag Assay product line. The firm also saved $1.8 million by eliminating settlement expenses.


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