NEW YORK, Nov. 8 (GenomeWeb News) - Decode Genetics yesterday reported a 20-percent increase in revenues amid narrowed losses for the third quarter.
Decode's revenues for the third quarter rose to $13.2 million from $11 million in the same period a year ago.
The company said R&D spending in the quarter surged nearly 70 percent to $11 million from $6.5 million for the same quarter last year.
Decode narrowed its net losses this quarter by 8.8 percent to $11.4 million, or $.21 per basic share, from $12.5 million, or $.23 per basic share in the year-ago period.
Qiagen had approximately $171 million in cash and cash investments as of Sept. 30.