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Myriad Genetics Reports Strong Q4 Revenue Growth Amid Swelling Losses

NEW YORK, Aug. 21 - Myriad Genetics today reported strong fourth-quarter revenue growth, a surge in R&D spending, and a ballooning net loss.


For the period ended June 30 the company posted $14.1 million in total receipts compared with $10.8 million for the same time one year ago.


R&D spending echoed every other cost center and grew in the current fourth quarter to $10.7 million from $7.2 million in the same period 2001, Myriad said.


As a result, fourth-quarter net loss swelled to $6.8 million, or $.29 per share, from $2.2 million, or $.09 per share, year over year, according to the company.


Myriad said it had about $124.2 million in cash and investments as of June 30.


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