Skip to main content
Premium Trial:

Request an Annual Quote

Paradigm Genetics Reports Fallen Q1 Revenue as Net Loss Narrows

NEW YORK, May 1 - Paradigm Genetics today reported a decline in first-quarter revenue atop receded R&D spending and narrowed net losses.

 

The ag-genomics company said total revenue for the period ended March 31 fell to $4.1 million from $5.6 million during the same time last year. Income from commercial partnerships in the first quarter 2003 shrank to $3.8 million from $5.6 million year over year, though Paradigm was able to book $228,000 in grant revenue in the quarter.

 

R&D spending also decreased, to $5.8 million in the current first quarter from $7.6 million for the same time one year ago, according to Paradigm. Included in these numbers was $71,000 and $105,000 in stock-based compensation in the 2003 and 2002 periods, respectively.

 

Net loss fell to $4.1 million, or $.13 per share, from $5.2 million, or $.16 per share, year over year, Paradigm said.

 

The company had roughly $11 million in cash, cash equivalents, and short-term investments as of March 31.

The Scan

Not Immediately Told

The US National Institutes of Health tells lawmakers that one of its grantees did not immediately report that it had developed a more infectious coronavirus, Science says.

Seems Effective in Kids

The Associated Press reports that the Pfizer-BioNTech SARS-CoV-2 vaccine for children appears to be highly effective at preventing symptomatic disease.

Intelligence Warning on Bioeconomy Threats

US intelligence warns over China's focus on technologies and data related to the bioeconomy, the New York Times reports.

PLOS Papers on Campylobacteriosis Sources, Inherited Retinal Dystrophies, Liver Cancer Prognosis

In PLOS this week: approach to uncover source of Campylobacteriosis, genetic risk factors for inherited retinal dystrophies, and more.