Variagenics Reports Slumping Revenues, Wider Loss in Q3 | GenomeWeb

NEW YORK, Nov. 2 – Variagenics recorded a drop in revenues and a widened net loss for the third quarter 2001 compared with the same period last year, the company said.

The Cambridge, Mass.-based pharmacogenomics company said revenues for the three months ended Sept. 30 fell to $600,000 from $800,000 one year earlier. Basic and diluted net loss, meanwhile, jumped to $6.6 million, or $0.28 per share, from $6.4 million, or $0.35 for the third quarter of 2000.

Still, the company remained optimistic about its outlook.

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