NEW YORK, Feb. 19 (GenomeWeb News) - Gene Logic today reported a 2-percent increase in total revenues and a 6.5-percent decrease in net losses year over year.
Total revenue for the three month period ended Dec. 31, 2004, increased to $20 million $19.7 million for the year-ago period.
Gene Logic said it spent $967,000 on R&D in the quarter, up from $491,000 year over year.
Net loss for the quarter fell 18 percent to $4 million, or $.13 per share, from $4.9 million, or $.16 per share.
Cash and cash equivalents on hand as of Dec. 31 included $53 million and $50 million in marketable securities.