NEW YORK, May 14 - DeCode Genetics reported an increase of first-quarter revenues today, amid narrowed net losses.
The company's R&D expenses increased slightly to $19.8 million, compared to $18.8 million for the year-ago period. DeCode said this increase partly reflected the acquisition of its pharmaceuticals and biostructures groups.
In total, the company's net losses came to $13.0 million, compared to $15.9 million for the first quarter of 2002.
As of March 31, DeCode had $79.2 million in cash and cash equivalents.