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Ciphergen Reports Rise in Revenues, Smaller Loss for Q1

NEW YORK, May 7 (GenomeWeb News) - Ciphergen Biosystems yesterday reported increased revenues and narrowed losses for the first quarter of the year.


The company's revenues totaled $15.5 million, up from $12.8 million in the first quarter of 2003.


R&D costs remained flast, at $6.2 million, compared to $6.4 million during the same quarter last year.


Ciphergen's net loss amounted to $7.5 million, or $.26 per share, down from $9.2 million, or $.34 per share, for the year-ago period.


As of March 31, Ciphergen had $39.6 million in cash, cash equivalents, and investments in marketable securities.

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