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Compugen Posts Zero Q1 Revenue Amid R&D Spending Slide and Flat Loss

May 01, 2007
NEW YORK (GenomeWeb News) — Compugen today reported it earned no revenue for the first quarter as R&D spending decreased 7 percent and net loss remained flat.
 
The company reported $200,000 in revenue for the first quarter last year.
 
Compugen said R&D spending in the quarter dipped to $2.5 million from $2.7 million year over year.
 
Net loss for the quarter increased slightly to $3.11 million from $3.09 million last year.
 
As of March 31, Compugen had $23.6 million in cash, cash equivalents, deposits, and marketable securities.

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