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DeCode Genetics Slashes Q3 Net Loss, Increases Revenues

NEW YORK, Oct. 29 (GenomeWeb News) - DeCode Genetics drastically slashed its net loss for the third quarter and reported revenue growth today.

The company had $12.8 million in revenue million for the quarter, ending Sept. 30, compared to $9.0 million for the year-ago quarter. Net loss was $1.3 million, compared to $85.4 million for the same period in 2002.

 

The firm cut its research and development expenditures to $11.1 million for the quarter, compared to $23.9 million for the third quarter of 2002.

 

The Reykjavik, Icelandpopulation genomics company said it has million in cash and cash equivalents at the close of the quarter on Sept. 30.

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