Logo

Compugen Reports Steep Cut in Revenues, Stable Loss for Q4

Feb 04, 2004

NEW YORK, Feb. 4 (GenomeWeb News) - Compugen's revenues were cut in half, while its net loss and R&D expenses stayed stable during the fourth quarter of 2003, the company reported today.

 

Revenues for the quarter were $1.4 million, down from $2.7 million during the same period last year.

 

Compugen's R&D expenses totaled $3.3 million, slightly below last year's of $3.6 million.

 

The company's net loss for the quarter amounted to $3.5 million, or $.13 per share, compared to a net loss of $3.2 million, or $.12 per share, for the previous year.

 

As of Dec. 31, Compugen had $60.5 million in cash, cash equivalents, and marketable securities.

 

Compugen, based in Tel Aviv, Israel, said it is currently looking for additional financing. For 2004, the company expects to have a burn rate of $15-17 million, and revenues of $5 million, reflecting a discontinuation of certain products as Compugen focuses on developing drugs.

 

Breaking News
The Scan

Enzyme Involved in Lipid Metabolism Linked to Mutational Signatures

In Nature Genetics, a Wellcome Sanger Institute-led team found that APOBEC1 may contribute to the development of the SBS2 and SBS13 mutational signatures in the small intestine.

Family Genetic Risk Score Linked to Diagnostic Trajectory in Psychiatric Disorders

Researchers in JAMA Psychiatry find ties between high or low family genetic risk scores and diagnostic stability or change in four major psychiatric disorders over time.

Study Questions Existence of Fetal Microbiome

A study appearing in Nature this week suggests that the reported fetal microbiome might be the result of sample contamination.

Fruit Fly Study Explores Gut Microbiome Effects on Circadian Rhythm

With gut microbiome and gene expression experiments, researchers in PNAS see signs that the microbiome contributes to circadian rhythm synchronicity and stability in fruit flies.