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Compugen Q2 Revenues Flat, Losses Narrow Slightly

NEW YORK, July 23 - Compugen today reported nearly flat revenues for the second quarter, amid slightly narrowed net losses.

 

The Tel Aviv, Israel company had second-quarter revenues of $2.9 million, compared to $2.8  million for the second quarter of 2002.

 

Compugen's R&D expenses were up slightly, to $3.4 million, from $3.0 million for the year-ago quarter.

 

The company's net losses came to $2.4 million, compared to $2.8 million for the second quarter of 2002.

 

As of June 30, the company had $34.8 million in cash, cash equivalents, short-term cash deposits, and marketable securities.

 

Compugen was to hold a conference call to discuss these results at 10AM today. For more information go to http://www.cgen.com.

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