Tripos Posts Strong Q3 Revenue Growth as Shares Jump 11 Percent

NEW YORK, Oct. 19 (GenomeWeb News) - Shares in cheminformatics company Tripos were up more than 11 percent in mid-afternoon trading today after the company announced a 16-percent gain in third-quarter revenue.

Total receipts for the three months ended Sept. 30 increased to $16.1 million from $13.8 million one year ago.

The results echoed growth across Tripos' three business sections: Year-over-year revenue from discovery informatics service grew to $6 million from 5.8 million; discovery informatics grew to $1.2 million from $759,000; and discovery research products and services grew to $8.8 million from $7.2 million.

Third-quarter R&D spending also increased, to $16.1 million from $13.8 million, the company said.

Tripos also posted a loss of $145,000, or $.02 per share, from a net gain of $964,000, or $.11 per share, for the same period one year ago.

Despite the red ink, shares in Tripos were up 11.4 percent, or $.42, at $4.10 in mid-afternoon trade on the Nasdaq exchange.

Tripos said it had around $4.8 million in cash and equivalents as of Sept. 30.