NEW YORK (GenomeWeb News) — CombiMatrix today said that second-quarter revenue plunged 27 percent as R&D spending was cut nearly in half and net loss widened 5 percent.
Total receipts for the three months ended June 30 decreased to $1.3 million from $1.8 million during the same period last year.
Product sales declined 60 percent to $458,000; government contract revenue rose 20 percent to $680,000; and service revenue was up more than 230 percent to $199,000 from $60,000.

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