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Ciphergen Reports Q3 Revenue Jump

SAN DIEGO, Oct. 25 – Ciphergen Biosystems on Thursday posted third-quarter revenues of $5.4 million compared to $2.3 million for the same quarter a year ago, the company announced.

“This was a very strong quarter for Ciphergen, as our revenue growth accelerated and met plan,” William Rich, CEO of Ciphergen, said in a statement. “We believe that investment in our sales force and new product offerings are paying off, as well as the delivery of collaboration revenues through our Biomarker Centers.”

Ciphergen, based in Fremont, Calif., recorded a net loss of $6.9 million for the third quarter of 2001 compared to a loss of $6.2 for the year-ago quarter. Operating expenses rose to $11.2 million, with $3.3 million in R&D, for the third quarter of this year from $7.6 million, of which $2.0 million was R&D, in the same period in 2000.

As of September 30, 2001, Ciphergen had $81.6 million in cash, cash equivalents, and investments in securities.

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