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Gene Logic Shares Slide 10 Percent on Q3 Losses and Lay-Offs

NEW YORK, Oct. 28 (GenomeWeb News) - Shares in Gene Logic were down 10.7 percent, or $.46, at $3.83 in mid-afternoon trading after the company reported today that its third-quarter net loss more than doubled.

 

The losses were related to the impairment of goodwill for its 2003 TherImmune Research acquisition, the company said.

 

Gene Logic also revised its full year revenue projections downwards and announced lay-offs.

The Scan

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