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Human Genome Sciences Revenues Up, Net Loss Falls

NEW YORK, Feb. 11 (GenomeWeb News) - Rockville, Md.-based Human Genome Sciences reported sharply increased revenues and cut its net loss for the fourth quarter ending Dec. 31, the company said today.

 

The company's revenues increased to $4.6 million for the quarter, compared to $642,000 for the year-ago period, while recording a net loss of $49 million, or $0.38 per share, computed on a GAAP basis for the quarter, compared to a loss of $60 million for the same period in 2002, or $0.46 per share, the company said in a statement. The company received a one-time license fee relating to an amended agreement signed during the fourth quarter of 2003.

 

The company had cash and short-term investments totaling $1.26 billion, including $280.8 million of restricted investments, on hand as of Dec. 31.

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