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Lynx Posts Sharp Drop in Revenues, Stable Losses for Q1

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.

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