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Ciphergen Posts Q2 Revenue Rise, Widened Loss

SAN FRANCISCO, Aug. 5 - Ciphergen Biosystems today reported an increase in second-quarter revenue and a widened net loss.

 

For the three months ended June 30, Ciphergen reported total revenues of $8.7 million compared with $3.7 million for the same period one year ago. The company said the increase was due to inclusion of revenue from its BioSepra Process division, acquired in July 2001, and increased sales of its ProteinChip systems and arrays.

 

Net loss for the quarter increased to $7.3 million, or $.27 per share, compared to $5.8 million, or $.22 per share, for the year-ago period.

 

R&D spending rose to approximately $4.7 million compared to $3 million for the second quarter in 2001.

 

The company said it had roughly $63.7 million in cash, cash equivalents, and investments in securities as of June 30.

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