Lexicon s Revenues Increase, Loss Narrows in Q1

Apr 29, 2004

NEW YORK, April 29 (GenomeWeb News) - Lexicon Genetics reported increased revenues and smaller losses for the first quarter today.

Lexicon's revenues for the quarter totaled $11.8 million, up from $8.1 million during the same quarter last year.

Research and development costs increased to $22.4 million, from $19.8 million during last year's first quarter.

The company's net loss amounted to $15.5 million, or $.25 per share, down from $17.1 million, or $.33 per share, during the year-ago period.

As of March 31, Lexicon had $145.4 million in cash and investments, including $57.5 million in restricted cash and investments.

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