NEW YORK, March 5 (GenomeWeb News) - Tm Bioscience reported increased revenue as well as increased net losses for the year 2003 in its year-end earnings report, released yesterday.
Total revenues in the year 2003 were $1.2 million, compared with $25,500 in 2002.
R&D expenses for the company rose to $3 million for the full-year 2003, compared with $2.5 million in 2002.
Net losses for the year were $7.8 million, or $.06 per share, in 2003. This compares with losses of $5.5 million, or $.05 per share, in 2002.
Tm Bioscience did not report revenues by quarter until the third quarter of 2003.