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.