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GeneNews, Formerly Chondrogene, Says Q3 Revenue Dips 1 Percent as Losses Swell 44 Percent

NEW YORK (GenomeWeb News) — GeneNews, Formerly Chondrogene, today said third-quarter revenues decreased 1 percent as R&D spending rose 31 percent and loss swelled 44 percent.
 
Total receipts for the three months ended Sept. 30 decreased to CA$878,000 (US $777,000) from CA$891,000 year over year. The company said revenues came from sales of its functional genomics services and from a one-time payment from Pfizer as part of a research collaboration.  
 
R&D spending increased to CA$2.3 million from CA$1.8 million year over year.
 
The company said loss increased to CA$2.1 million from CA$1.5 million in the year-ago period.
 
GeneNews said it had around CA$23.4 million in cash and cash equivalents as of Sept. 30.
 
 

The Scan

Dropped Charges

The US Justice Department has dropped visa fraud charges against five Chinese researchers, according to the Wall Street Journal.

More Kids

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