Compugen Posts $10K in Q4 Revenue; Cash Burn May Require Infusion in Mid-'09

Feb 06, 2007

NEW YORK (GenomeWeb News) — Compugen today reported revenue for the fourth quarter as R&D spending increased 20 percent and net loss widened 12 percent.

Total receipts for the three months ended Dec. 31, 2006, were $10,000 compared with zero revenue one year ago.

Compugen said R&D spending in the quarter rose to $2.9 million from $2.4 million year over year.

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