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Paradigm Genetics Reports Q2 Revenues Growth

NEW YORK, Aug 2 (GenomeWeb News) - Paradigm Genetics posted on Monday a second-quarter net loss essentially flat with the year-ago quarter, despite a 12 percent rise in revenues during the period.


Paradigm's revenues in the quarter were $6.3 million, up from $5.6 million in the second quarter 2003.


Meanwhile, the company's research and development spending climbed to $6.8 million in the second quarter, compared with $6.5 million in the year-ago period, helping to drive overall expenses about $800,000 higher to $9.8 million.


Paradigm reported a second-quarter net loss of $3.6 million. As of June 30, the company had cash, cash equivalents, and short-term investments totaling about $10.7 million.


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