NEW YORK, Nov. 4 (GenomeWeb News) - Incyte today reported significantly decreased third-quarter revenues, and widened net losses.
The Palo Alto, Calif., company reported revenues of $13.2 million for the third quarter, compared to $22.4 million for the same period last year. Net loss widened to $43.0 million, from $38.4 million for the third quarter of 2002.
R&D expenses were down to $28.6 million, from $47.4 million in the third quarter of 2002.
As of Sept. 30, Incyte had $315.1 million in cash and cash equivalents.