NEW YORK (GenomeWeb News) — DeCode Genetics today said first-quarter revenues decreased 15 percent as R&D spending dropped 18 percent and losses rose 9 percent.
Total receipts for the three months ended March 31 fell to $8.6 million from $10.1 million year over year.
DeCode said it also had $11.6 million in deferred revenue at the close of the first quarter, which it will recognize over future periods.
R&D spending fell to $12.7 million from $15.5 million year over year.