NEW YORK, Sept 28 –German bioinformatics company Lion Bioscience (Neuer Markt: LIO, Nasdaq: LEON) said Thursday its first quarter fiscal 2001 net losses increased to 14.04 million euros ($12.4 million), or 1.84 euros per share, compared with net losses of 3.31 million euros, or 0.60 euro a share, in the year ago period.

The first-quarter 2001 results include a non-cash compensation expense of 8.7 million euros from the conversion of preferred shares to ordinary shares.

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