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Lynx s Revenues Fall, Loss Widens in Q4

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.

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