Skip to main content
Premium Trial:

Request an Annual Quote

Compugen Reports Drop in Q1 Revenues

NEW YORK, April 21 (GenomeWeb News) - Tel Aviv, Israel-based Compugen today reported revenues of $1.5 million for its fiscal first quarter ending March 31, and a net loss of $3 million.

 

The company attributed the loss in revenues primarily from implementing a repositioning of its business to focus on drug development.

 

The first quarter revenues of $1.5 million included $401,000 from research and development grants, compared to $2.6 million, including $455,000 in R&D grants, for the year-ago quarter.

 

Net loss was $3 million, including a non-cash charge of $238,000 for the amortization of deferred compensation, compared to a net loss of $2.3 million, including $94,000 of deferred compensation, for the same quarter in 2003.

 

The company reported research and development expenses of $2.9 million, compared to $3.2 million for the year-ago quarter.

 

The company had $58.1 million in cash, cash equivalents, and marketable securities on hand at the end of the quarter, compared to $60.5 million in cash, cash equivalents, and marketable securities on Dec. 31, 2003.

 

In a statement, the company said that it expects to spend from $15 to $17 million for the calendar year, and expects to have a year-end balance of approximately $45 million.

The Scan

Booster for At-Risk

The New York Times reports that the US Food and Drug Administration has authorized a third dose of the Pfizer-BioNTech SARS-CoV-2 vaccine for people over 65 or at increased risk.

Preprints OK to Mention Again

Nature News reports the Australian Research Council has changed its new policy and now allows preprints to be cited in grant applications.

Hundreds of Millions More to Share

The US plans to purchase and donate 500 million additional SARS-CoV-2 vaccine doses, according to the Washington Post.

Nature Papers Examine Molecular Program Differences Influencing Neural Cells, Population History of Polynesia

In Nature this week: changes in molecular program during embryonic development leads to different neural cell types, and more.