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CombiMatrix Reports Surging Q4 Revenue Amid Increased Net Loss

NEW YORK, Feb. 25 (GenomeWeb News) - CombiMatrix reported yesterday that fourth-quarter revenues surged by around $470,000, but that net loss increased by almost half, the company said.

 

Mulkiteo, Wash.-based CombiMatrix had $522,000 in total revenues for fourth quarter, compared to revenues of  $53,000 for the same quarter last year, while increasing its net loss 44 percent to $1.6 million from $1.1 million in the year-ago period.

 

The life-sciences unit of Acacia Research had research and development expenses of $1.4 million for the quarter, down 27 percent from $1.9 million in the fourth quarter of 2003.

 

CombiMatrix said it had around $23.7 million in cash, equivalents, and short-term investments as of Dec. 31, 2004.

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