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Compugen Reports $281K Q1 Revenues

NEW YORK (GenomeWeb News) – Compugen today reported first-quarter revenues of $281,000 versus no revenues in the comparable period a year ago.
The Tel Aviv, Israel-based developer of predictive drug discovery platforms posted a net loss of $2.5 million, or $.09 per share, down 19.4 percent from a net loss of $3.1 million, or $.11 per share, for the first quarter of 2007.
Compugen’s R&D expenses decreased 10 percent to $1.8 million from $2 million, and its SG&A costs increased 9 percent to $1.2 million from $1.1 million.
The firm held cash, cash equivalents, deposits, and marketable securities of $14.8 million as of March 31.

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