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CuraGen s Revenues Fall, Losses Narrow in Q4

NEW YORK, Feb. 5 (GenomeWeb News) - CuraGen reported falling revenues and smaller losses for the fourth quarter of 2003 today.


Revenues for the quarter decreased to $2.5 million from $3.8 million a year ago.


CuraGen's R&D expenses decreased to $16.6 million, from $18 million during the same period last year.


The company's net loss for the quarter narrowed to $17.5 million, or $.35 per share, from $28.9 million, or $.59 per share, for the year-ago period.


As of Dec. 31, CuraGen had cash and investments of $343.6 million.


CuraGen said it will continue to focus on clinical studies of its protein, antibody, and small molecule therapeutics this year. Its whole genome sequencing subsidiary, 454 Life Sciences, is planning to bring its first product to market this year.


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