NEW YORK (GenomeWeb News) — Compugen today reported zero revenues for the third quarter as net losses declined 30 percent.
Receipts for the three months ended Sept. 30, 2005, were $95,000, Compugen said.
R&D spending for the quarter declined 26 percent to $1.7 million from $2.3 million in 2005.
Compugen said net losses in the quarter declined 30 percent to $2.5 million percent from $3.6 million year over year.
At the end of the period the company held $22.5 million in cash, equivalents, and short-term deposits and marketable securities.