NEW YORK (GenomeWeb News) — Gene Logic today said third-quarter revenues rose 22 percent as R&D spending increased 4 percent and net loss narrowed by 70 percent.

 

Total receipts for the three months ended Sept. 30 rose to $4.5 million from $3.7 million year over year and came largely from the company’s genomic-services business, which posted flat revenues compared to the same quarter in 2006. Receipts from the company’s drug-repositioning business swelled to $841,000 from $6,000 in the year-ago period.