NEW YORK, April 30 - Compugen today reported revenues of $2.6 million and a net loss of $2.3 million for the first quarter ending March 31.
Revenues, which included $455,000 from R&D grants, were down from the $2.8 million for the year-ago quarter, The Tel Aviv, Israel-based firm said. Net loss, including a non-cash charge of $94,000 for amortization of deferred compensation, dropped from the year-ago quarter's loss of $3.2 million. The company reported R&D expenses of $3.2 million for the quarter, compared to $3.4 million for the same quarter in 2002.
The company reported $67.3 million in cash, cash equivalents and securities on hand as of March 32, comparable to the year-ago quarter and including a $1.7 million private placement by its ag-bio subsidiary Evogen.