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