NEW YORK, April 1 (GenomeWeb News) - Transgenomic yesterday reported that fourth-quarter revenue fell 4 percent as R&D spending declined and net losses narrowed.
Total receipts for the three months ended
R&D spending, meantime, fell to $1.3 million from $2.2 million year over year.
This decrease helped net losses to decline to $6.9 million, or $.24 per share, from $8.6 million, or $.32 per share, during the same quarter last year.
Transgenomic said it had around $1 million in cash, equivalents, and short-term investments as of
As GenomeWeb News reported, Transgenomic will likely receive a delisting warning from the Nasdaq exchange because its shares have closed below $1 for 30 consecutive trading days.
In February, the company wrapped up a reorganization announced in November.