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CuraGen Reports Smaller Revenues, Higher Losses and a New Toxicogenomics Deal

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.

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