NEW YORK (GenomeWeb) – Cellular Dynamics International today reported that its second quarter revenues increased 29 percent year over year, but the firm missed Wall Street estimates on the top and bottom lines.

The Madison, Wis.-based provider of stem cells for research purposes reported total revenues of $3.6 million for the three months ended June 30, up from $2.8 million in the second quarter of 2013. Analysts, on average, had expected revenues of $4.9 million.

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University of California, San Diego, researchers have developed a gene drive to control a fruit-destroying fly.

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