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Shares in Third Wave Tumble 5.9 Percent

This article incorrectly reported that Piper Jaffray downgraded Third Wave's shares today. In fact, Piper downgraded the stock on March 1, not April 1.

NEW YORK, April 1 (GenomeWeb News) - Shares in Third Wave Technoloigies were down 5.9 percent, or $.34, at $5.42 in mid-afternoon trading.

 

As GenomeWeb News  reported, Third Wave in February reported a 16.5-percent drop in fourth-quarter revenue and almost tripled losses for the fourth quarter of 2004.

 

The company had $8.1 million in revenues, down from $9.7 million during the same quarter in 2003. Third Wave said that more than half, or $4.7 million, of total revenues were derived from clinical molecular diagnostics, meaning that this business segment grew almost 90 percent compared to the fourth quarter of 2003.

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