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Aclara Posts Uptick in Q2 Revenues as Losses Decrease; Acquisition By Virologic Still On

Aug 06, 2004

NEW YORK, Aug. 6 (GenomeWeb News) - Aclara Biosciences on Wednesday reported an uptick in second-quarter revenue amid significantly decreased R&D spending and a narrowed net loss.

 

The company, which is slated to be acquired by ViroLogic during the fourth quarter, generated $515,000 in receipts for the three months ended June 30 compared with $405,000 in the year-ago quarter.

 

Second-quarter R&D spending shrank to $2.7 million from $4 million year over year.

 

Largely as a result, net loss decreased to $4.9 million, or $.13 per share, from $5.1 million, or $.14 per share, during the second quarter last year.

 

Aclara, based in Mountain View, Calif., said it had around $81.9 million in cash, equivalents, and marketable securities as of June 30.

 

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