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Lexicon Genetics Reports Q2 Revenue Upswing, Reduced Losses

SAN FRANCISCO, Aug. 7 - Lexicon Genetics today reported an increase in second quarter revenue and a decrease in net loss.

 

For the three months ended June 30, Lexicon reported total revenues of $9.4 million compared with $3.5 million for the same period one year ago. Revenue for the quarter included $5 million in subscription and license fees and $4.3 million from collaborative research agreements, according to the company.

 

Net loss for the quarter decreased to $14.9 million, or $.29 per share, compared to $9.9 million, or $.20 per share, for the year-ago period.

 

R&D spending rose to approximately $19 million from $10.7 million for the second quarter in 2001

 

The company said it had roughly $135.1 million in cash and investments as of June 30.

 

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