This story has been corrected from a previous version that misstated the company's cash holdings.
SAN FRANCISCO, April 24 - Compugen on Wednesday posted increased revenues and a decreased loss for the first quarter 2002.
For the three months ended March 31, the company reported revenues of $2.8 million, compared with $2.2 million in the same period one year ago.
Compugen also said that net losses decreased to $3.2 million, or $.12 a share in the first quarter of 2002, compared with $3.6 million, or $.14 a share one year ago. R&D spending decreased roughly $100,000 year-over-year to approximately $3.4 million.
Compugen said it has $73.6 million in cash, cash equivalents, and short and long term cash deposits and corporate bonds, down from $78.5 million as of December 31, 2001.