NEW YORK, Oct. 24-CuraGen today reported slightly smaller revenues and sharply higher net losses for the third quarter of 2002.
The company's loss was $19.9 million for the quarter, or 41 cents per share. For the third quarter of 2001, the company's loss was $11.1 million or 23 cents per share.
Revenues for the quarter were $6 million, down from $6.1 million during the equivalent period last year.
The company spent $21.3 million on R&D this past quarter, up from $17.4 million during the third quarter of 2001.
For further details, see the press release.
CuraGen also announced a new partnership yesterday in which Ono Pharmaceutical will use its genomics-based toxicology screen to evaluate drug compounds.
In an agreement that builds upon a pharmacogenomics deal the two companies struck in 2000, the Japanese pharmaceutical company will use CuraGen's system evaluate and rank early-stage compounds.