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Genaissance Posts Q4 Revenue Surge; R&D and Net Loss Grows

NEW YORK, Feb. 12 (GenomeWeb News) - Genaissance today posted a strong jump in fourth-quarter revenues atop increased R&D spending and a widened net loss.

 

Receipts for the three-month period ended Dec. 31 surged to $4.7 million from $2.6 million one year ago.

 

R&D spending, meantime, also increased in the fourth quarter to $6 million from $4.3 million in the year-ago period.

 

Net loss widened to $6.5 million, or $.28 per share, from $5.4 million, or $.24 per share, year over year, Genaissance said.

 

The company said it had around $16.8 million in cash, cash equivalents, and marketable securities as of Dec. 31.

 

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