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Ciphergen s Q3 Revenues Decline 31 Percent as Net Loss Nearly Doubles

NEW YORK, Nov. 2 (GenomeWeb News) - Ciphergen Biosystems yesterday reported a 31-percent decline in third-quarter revenue and almost doubled losses as sales of its ProteinChip mass spectrometry systems and BioSepra process chromatography products took a hit.


Revenues for the quarter ended Sept. 30 totaled $11 million, down from $16 million during the same period last year.


R&D expenses declined to $4.7 million from $5.4 million during the year-ago quarter.


Ciphergen's loss for the quarter widened to $9.5 million, or $.33 per share, almost twice as much as last year's loss of $5.2 million, or $.18 per share, during the third quarter.


As of Sept. 30, Ciphergen had $19 million in cash, cash equivalents, and investments in securities.

Last week, the company said it will sell its BioSepra business to Pall for $32 million.

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