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.
R&D costs decreased to $2.9 million, from $3.8 million during the same period a year ago.
Third Wave's net loss for the quarter amounted to $4.7 million, or $.12 per share, up from $1.6 million, or $.04 per share, during the last quarter of 2003. This loss was primarily due to severance-related charges, non-recurring litigation, and Sarbanes-Oxley compliance expenses, according to the company.
The company said it plans to grow its
As of Dec. 31, Third Wave had $66.7 million in cash, cash equivalents, and short-term investments.