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Inching Toward Acquisition by ViroLogic, Aclara Posts 34-Percent Decline in Q3 Revenue

NEW YORK, Nov. 9 (GenomeWeb News) - Aclara today reported a 34-percent decline in third-quarter revenue as costs for its impending acquisition by ViroLogic helped widen net losses.

 

Total receipts for the three months ended Sept. 30 fell to $181,000 from $276,000 year over year.

 

The company, which is slated to be acquired by VioroLogic during the fourth quarter, said net losses for the period fell to $4 million, or $.11 per share, from $4.9 million, or $.14 per share, year over year.

 

As GenomeWeb News reported in June, Aclara said it would be acquired by ViroLogic for around $180 million in order to develop and commercialize Aclara's eTag assays for molecular diagnostic applications. The new company will be called ViroLogic.

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