NEW YORK, May 14 (GenomeWeb News) - Lynx Therapeutics yesterday reported sharply declined revenues and stable losses for the first quarter of the year.
Revenues totaled $1.3 million, down from $3.3 million during the first quarter of last year.
Research and development costs declined to $2.5 million, from $3.6 million in the year-ago period.
The company posted a net loss of $4.2 million, or $.66 per share, up from $4 million, or $.85 per share, during the same period last year.
As of March 31, Lynx had cash and cash equivalents of $5.6 million.