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Lion s Revenues Decline Sharply in Q2 of FY05, Loss Narrows

NEW YORK, Nov. 4 (GenomeWeb News) - Lion Bioscience today reported a sharp revenue downturn for its second fiscal quarter, while the company cut its loss in half.

 

Lion booked €2.6 million ($3.4 million) in revenues for the quarter ended Sept. 30, down from €5 million ($6.4 million) during the same period last year.

 

The company did not state its R&D expenses for the quarter.

 

Lion's net loss for the quarter narrowed to €3.4 million from €6.5 million during the year-ago quarter. This reduction resulted from Lion's cost-cutting measures.

 

As of Sept. 30, Lion had €33.3 million in liquid assets.

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