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Biotage (Once Pyrosequencing) Expects Strong Q4 Revenue Growth

Feb 19, 2004

NEW YORK, Feb. 19 (GenomeWeb News) - Biotage, which changed its name from Pyrosequencing late last year, said it expects fourth-quarter 2003 sales to have increased and net loss to have narrowed.

 

Total receipts for the three-month period ended Dec. 31 jumped to SEK105 million ($14.5 million) from SEK34 million one year ago, the company said in an interim fourth-quarter earnings report.

 

The report, which was not comprehensive, also said net loss would decrease to SEK 31 million from SEK44 million in the same period one year ago.

 

The new company was created when Pyrosequencing bought US-based Biotage in October 2003 for around $30 million.

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