NEW YORK, Feb. 20 (GenomeWeb News) - Gene Logic reported an increase in total fourth-quarter revenue, but if the company hadn't acquired TherImmune Research, its revenues would have fallen around $1 million.
Revenues for the three months ended Dec. 31 increased to $19.7 million from $14.8 million one year ago largely on the shoulders of the $5.8 million generated by TherImmune Research, which Gene Logic acquired last April. Without the acquiaition, Gene Logic's revenue for the fourth quarter 2003 would have been $13.9 million compared with $14.8 million for the same period one year ago.
R&D costs decreased to $500,000 from $800,000 during the same quarter a year ago, while net loss decreased to $4.9 million, or $.16 per share, from $5.2 million, or $.19 per share, during the fourth quarter a year ago.
As of Dec. 31, Gene Logic had approximately $111.8 million in cash, cash equivalents and marketable securities available-for-sale. This includes $48.7 million in cash and cash equivalents.
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Separately, Gene Logic said that Boehringer Ingelheim has renewed its license to Gene Logic's GeneExpress information services for several years.