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NEW YORK, Feb. 20 (GenomeWeb News) - Gene Logic reported increased revenues and slightly narrowed losses for the fourth quarter of 2003.
Revenues for the quarter increased to $19.7 million, up from $14.8 million during the same period in 2002.
R&D costs decreased to $.5 million, from $.8 million during the same quarter a year ago.
The company's net loss decreased slightly to $4.9 million, or $.16 per share, from $5.2 million, or $.19 per share, during the fourth quarter a year ago.
As of Dec. 31, Gene Logic had approximately $111.8 million in cash, cash equivalents and marketable securities available-for-sale. This includes $48.7 million in cash and cash equivalents.
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Separately, Gene Logic said that Boehringer Ingelheim has renewed its license to Gene Logic's GeneExpress information services for several years.