NEW YORK, Feb. 25 (GenomeWeb News) - Shares in CombiMatrix were down more than 9 percent, or $.30, at $3 in mid-afternoon trading after the company reported a significant increase in net loss for the fourth quarter.
As GenomeWeb News reported this morning, CombiMatrix yesterday said that net losses for the three-month period
The Mulkiteo, Wash.-based company also said revenues for the quarter jumped to $522,000 from $53,000 for the same quarter last year.
CombiMatrix said it spent $1.4 million on R&D in 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.