NEW YORK, July 25 - Gene Logic of
The increase in revenues entirely reflected contribution fees from Gene Logic's acquisition of Therlmmune Research, according to the company. This is the first quarter for which earnings reflected the acquisition of Therlmmune. The acquisition deal was completed April 1.
Net losses for the company were $4 million, compared with $4.4 million in the year-ago period.
The company's R&D expenses decreased from $637,000 in Q2 2002 to $463,000 in Q2 2003.
As of June 30, the company had $71 million in cash and cash equivalents.