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Genomica Posts Q2 Revenue Rise

NEW YORK, Aug. 7 – Genomica Corporation's revenue jumped 17 percent to $464,000 for the second quarter 2001, compared to $396,000 recorded in the year-ago period, the company said on Tuesday.

The Boulder, Colo.-based company attributed the revenue rise to licensing fees from its LinkMapper software and consulting fees from its alliance with Applied Biosystems.

Genomica registered second-quarter net losses of $5.8 million, or 26 cents per share, compared to $7.1 million, or $5.30 per share, year over year. This missed by 9 cents the net loss predicted by analysts polled by Thomson Financial/First Call.

Research and development increased slightly to $3.7 million from $3.2 million in the year-ago period.

Total operating costs in the quarter rose to $7.9 million, compared to $7.7 million one year ago.

As of June 30, Genomica had $115.5 million in cash, investments, and interest receivable on investments.

Last week, the investment firm Harris & Harris Group, responsible for providing seed money for Genomica, sold its nearly 3 percent stake in the company. As GenomeWeb reported, Harris & Harris Group said it planned to use the net proceeds “in other private equity situations.”

Genomica develops and markets software and services designed to enable pharmaceutical and biotechnology researchers to accelerate drug discovery and development.

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