NEW YORK, Feb. 19 (GenomeWeb News) - Lexicon Genetics today reported increased revenues, losses, and R&D expenses for the fourth quarter of 2003.
Revenues for the quarter were $13.7 million, up from $10.1 million during the same period a year ago. Lexicon attributed this increase primarily to a milestone payment from Genentech.
The company spent $20.3 million on R&D last quarter, up from $19.2 million during the same quarter in 2002.
Lexicon's net loss increased to $14.9 million, or $.24 per share, from $13.9 million, or $.26 per share, during the year-ago period.
As of Dec. 31, Lexicon had $161 million in cash and investments, including $57.5 million in restricted cash and investments.
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