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Ciphergen Reports Strong Revenue Growth, Slightly Smaller Loss in Q4

NEW YORK, Feb.14 - Ciphergen Biosystems reported strong growth in revenues and R&D spending during the fourth quarter of 2002 today, along with a slightly smaller net loss.

 

Revenues for the quarter ended Dec. 31 increased to $13.6 million, up from $7.3 million during the same period the year before.

 

R&D spending during the quarter was $6.1 million, up from $4.0 million during the year-ago period.

 

Net losses decreased slightly, from $7.1 million or $.27 per share to $6.7 million or $.25 per share.

 

Ciphergen said it had $42.5 million in cash, cash equivalents, and investments in securities as of Dec. 31, 2002.

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