Decode Genetics' Q4 Revenues Rise 21 Percent as Cash Dwindles | GenomeWeb

NEW YORK (GenomeWeb News) – Decode Genetics reported after the close of the market on Tuesday that its fourth-quarter 2008 revenues increased 21 percent and its net loss dropped sharply. But the firm only has enough liquid assets to fund operations into the second quarter of this year, and said that it is seeking additional funds through a variety of options.

The Reykjavik, Iceland-based genetic test and drug developer brought in revenues of $16.1 million for the three-month period ended Dec. 31, 2008, compared to revenues of $13.3 million for the fourth quarter of 2007.

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