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Ciphergen Posts Strong Revenue Growth, R&D Spending in Q3

NEW YORK, Nov. 1 - Ciphergen Biosystems yesterday reported nearly two-fold growth in revenues and R&D spending during the third quarter amid a slightly widened net loss.

 

Revenues for the period ended Sept. 30 swelled to $10.2 million from $5.4 million one year ago.

 

R&D spending mirrored the revenue increase, jumping to $6.0 million from $3.3 million in the third quarter 2001.

 

As a result, net loss widened to $7.9 million, or $.29, from $6.9 million, or $.26, year over year, Ciphergen said.

 

The company said it had $51.6 million a year in cash, cash equivalents, and investments in securities as of Sept. 30.

 

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