DeCode's Q1 Revenue Falls 15 Percent as R&D Spending Slides and Loss Widens

May 01, 2007

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.

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