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Nanogen Reports Widened Loss, Shrunken Revenue in Q4

NEW YORK, Jan. 31 - Nanogen on Thursday reported widened net losses in the fourth quarter 2001 atop fallen revenues.

 

Revenues for the period ended Dec. 31 fell to $2.3 million from $3.0 million one year ago as Nanogen's income was generated primarily from product revenues as opposed to sponsored research, the company said in a statement.

 

Net loss in the quarter was $7.5 million, or $.35  a share, compared with $5.9 million, or $.29 in the same period one year ago.

 

The San Diego-based company said it has $67.5 million in the bank.