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Nanogen s Revenues Nearly Double in Q3

NEW YORK, Nov. 3 (GenomeWeb News) - Nanogen posted a near doubling of revenue in the third quarter, the company said yesterday.  

 

Nanogen's total revenues for the period ended Sept. 30 increased 191 percent to $3.2 million from $1.1 million in the comparable quarter last year, the company said. Nanogen reported $1.1 million in product revenue for the third quarter of 2005, compared to $671,000 during the same period in 2004.

 

R&D spending in the period increased 26.7 percent to $5.7 million from $4.5 million year over year.

 

Nanogen's net loss fell to $8.8 million, or $0.18, from $9.4 million, or $.28 per share year over year.

 

The company had cash, equivalents, and short-term investments totaling $40.7 million at the end of the recent quarter.

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