Total receipts for the period ended Dec. 31 jumped to $53,000 from $16,000 one year ago. From this, revenue from product sales increased in the quarter to $27,000 from $9,000 year over year, and receipts from grants or contracts increased to $26,000 from $7,000 during the fourth quarter 2002.
R&D spending in the fourth quarter fell to $1.9 million from $4 million year over year. As a result, net loss for the division dwindled to $4 million from $21.4 million for the same period last year.
CombiMatrix said it had around $17.3 million cash, equivalents, and short-term investments as of Dec. 31.