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Decode s Q2 Revenue Climbs 19 Percent, Loss Remains Flat

NEW YORK, Aug. 3 (GenomeWeb News) - Decode Genetics yesterday reported increased revenues and a flat net loss for the second quarter of 2005.

 

Revenues for the quarter were $11.4 million, up 19 percent over last year's revenues of $9.6 million during the same period.

 

Research and development costs more than doubled, to $11 million from $5.4 million during the year-ago period. This increase was due to costs of clinical trials, according to the company.

 

Decode's net loss for the quarter remained flat at $13.3 million, or $.25 per share.

 

As of June 30, Decode had $185.3 million in cash and short-term investments, including restricted cash.