NEW YORK, April 24 - Ciphergen Biosystems reported a sharp increase in year-over-year revenue for the first quarter today, and widened its losses slightly.
Ciphergen's net losses widened to $9.1 million for the first quarter, from $7.6 million in the year-ago quarter.
R&D expenses increased to $6.4 million, from $3.9 million in the first quarter of 2001.
An increase in sales, general, and administrative expenses accounted for the remainder of the rise in expenses to $17.1 million, from $11.8 million in the previous year's period, and consequent widening of losses.
As of March 31, Ciphergen had $36.3 million in cash, cash equivalents and investments, compared to $42.5 million at the end of March 2002.