Revenues for the quarter were $1.1 million, down from $17.6 million during the same quarter in 2004. Last year's figures included $17.3 million in deferred revenues from CombiMatrix's alliance with Roche.
R&D costs decreased slightly, to $1.1 million, from $1.4 million during last year's first quarter.
CombiMatrix's net loss for the quarter was $3.1 million, compared to a profit of $11.9 million during the same quarter in 2005, which was primarily driven by the recognition of the Roche contract revenues in that quarter.
As of March 31, CombiMatrix had $20.4 million in cash, cash equivalents, and short-term investments.