NEW YORK, July 30 (GenomeWeb News) - Ciphergen Biosystems yesterday reported sliding revenues and narrowed losses for the second quarter.
The company booked $10.8 million in revenues for the quarter, down from $14.3 million during the same quarter in 2003.
R&D costs decreased to $6 million, from $7 million during the same quarter last year.
The company's net loss amounted to $13.1 million, down from $15.6 million during the second quarter a year ago. Last year's net loss included a $7.3 million non-recurring litigation settlement.
As of June 30, Ciphergen had $29.8 million in cash, cash equivalents and investments in securities.