NEW YORK, April 1 (GenomeWeb News) - Lynx Therapeutics yesterday reported falling revenues and increased losses for the last quarter of 2003.
Revenues for the quarter fell to $2 million, from $4.7 million for the same quarter in 2002. Lynx attributed this decrease primarily to lower fees for its technology and service, and fewer collaborative research projects.
R&D costs decreased to $2.4 million, down from $4.2 million during the year-ago period.
Lynx's net loss amounted to $3.5 million, or $.65 per share, up from $3 million, or $.69 per share, during the fourth quarter of 2002.
As of Dec. 31, Lynx had cash and cash equivalents of $5.6 million, including $0.7 million in restricted cash.
Click here for the full earnings report.