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LSBC s Revenues Take Dive, Losses Narrow in Q1

NEWS YORK, April 30 (GenomeWeb News) - Large Scale Biology reported a sharp decline in revenues as well as narrowed losses for the first quarter of 2004 on Wednesday.


The company's revenues totaled $320,000, down from $850,000 during the same quarter last year.


Research and development costs were $2.2 million, down from $3.2 million during the same period a year ago.


LSBC's net loss amounted to $4.3 million, or $.16 per share, down from $7.6 million, or $.3 per share, during the year-ago period.


As of March 31, LSBC had $11.2 million in cash and marketable securities.